Truist Financial Corp Sells 83,967 Shares of Diageo plc (NYSE:DEO)

Truist Financial Corp decreased its position in shares of Diageo plc (NYSE:DEO) by 26.3% in the 4th quarter, HoldingsChannel reports. The firm owned 235,741 shares of the company’s stock after selling 83,967 shares during the quarter. Truist Financial Corp’s holdings in Diageo were worth $29,970,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of DEO. Canoe Financial LP lifted its position in Diageo by 88,407.3% during the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock worth $1,031,465,000 after purchasing an additional 8,104,301 shares during the period. Natixis Advisors LLC lifted its position in Diageo by 105.7% during the third quarter. Natixis Advisors LLC now owns 949,411 shares of the company’s stock worth $133,240,000 after purchasing an additional 487,904 shares during the period. FMR LLC lifted its position in Diageo by 9.1% during the third quarter. FMR LLC now owns 5,242,065 shares of the company’s stock worth $735,671,000 after purchasing an additional 437,646 shares during the period. ABC Arbitrage SA bought a new stake in Diageo during the fourth quarter worth about $37,777,000. Finally, Confluence Investment Management LLC lifted its position in Diageo by 30.5% during the third quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock worth $170,623,000 after purchasing an additional 284,046 shares during the period. Institutional investors own 8.97% of the company’s stock.

Diageo Stock Performance

Shares of NYSE DEO opened at $107.82 on Wednesday. The stock has a 50-day moving average price of $120.76 and a two-hundred day moving average price of $125.90. Diageo plc has a 12 month low of $105.72 and a 12 month high of $154.71. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.55.

Diageo Dividend Announcement

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Friday, February 28th will be paid a $1.62 dividend. This represents a dividend yield of 3.8%. The ex-dividend date is Friday, February 28th.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DEO. TD Cowen upped their price objective on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. Finally, UBS Group raised Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Diageo currently has a consensus rating of “Hold” and a consensus price target of $129.00.

Diageo Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. The company offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavored malt beverages. It also provides Chinese, Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as flavored malt beverages, ready to drink, and non-alcoholic products.