PNC Financial Services Group Inc. Reduces Holdings in Diageo plc (NYSE:DEO)

PNC Financial Services Group Inc. lowered its position in shares of Diageo plc (NYSE:DEO) by 3.0% during the fourth quarter, HoldingsChannel reports. The firm owned 75,037 shares of the company’s stock after selling 2,354 shares during the period. PNC Financial Services Group Inc.’s holdings in Diageo were worth $9,540,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Assetmark Inc. raised its holdings in Diageo by 160.7% in the third quarter. Assetmark Inc. now owns 14,235 shares of the company’s stock valued at $1,998,000 after acquiring an additional 8,775 shares in the last quarter. Sigma Planning Corp raised its holdings in Diageo by 14.5% in the third quarter. Sigma Planning Corp now owns 5,965 shares of the company’s stock valued at $837,000 after acquiring an additional 754 shares in the last quarter. Chartwell Investment Partners LLC raised its holdings in Diageo by 4.8% in the third quarter. Chartwell Investment Partners LLC now owns 32,138 shares of the company’s stock valued at $4,510,000 after acquiring an additional 1,481 shares in the last quarter. Addison Advisors LLC raised its holdings in Diageo by 108.2% in the third quarter. Addison Advisors LLC now owns 406 shares of the company’s stock valued at $57,000 after acquiring an additional 211 shares in the last quarter. Finally, Schrum Private Wealth Management LLC raised its holdings in Diageo by 79.4% in the third quarter. Schrum Private Wealth Management LLC now owns 3,492 shares of the company’s stock valued at $490,000 after acquiring an additional 1,546 shares in the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on DEO shares. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Finally, TD Cowen boosted their target price on shares of Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $129.00.

Diageo Stock Down 1.6 %

DEO stock opened at $110.44 on Wednesday. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. Diageo plc has a 1-year low of $105.72 and a 1-year high of $151.76. The firm has a fifty day moving average price of $115.28 and a two-hundred day moving average price of $124.01. The firm has a market cap of $61.43 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 2.39 and a beta of 0.65.

Diageo Announces Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Friday, February 28th will be paid a dividend of $1.62 per share. The ex-dividend date is Friday, February 28th. This represents a yield of 3.8%. Diageo’s payout ratio is 46.42%.

Diageo Company 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.