Federated Hermes Inc. Sells 56,958 Shares of Diageo plc (NYSE:DEO)

Federated Hermes Inc. trimmed its holdings in shares of Diageo plc (NYSE:DEO) by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 711,147 shares of the company’s stock after selling 56,958 shares during the quarter. Federated Hermes Inc. owned about 0.13% of Diageo worth $90,408,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DEO. Canoe Financial LP raised its stake in shares of Diageo by 88,407.3% in the 4th quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock valued at $1,031,465,000 after acquiring an additional 8,104,301 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Diageo by 9.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,220,534 shares of the company’s stock valued at $155,167,000 after purchasing an additional 103,540 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Diageo by 14.2% during the 4th quarter. Wellington Management Group LLP now owns 1,132,046 shares of the company’s stock worth $143,917,000 after buying an additional 140,587 shares during the period. Clearbridge Investments LLC raised its holdings in Diageo by 5.5% in the 4th quarter. Clearbridge Investments LLC now owns 1,114,467 shares of the company’s stock worth $141,682,000 after acquiring an additional 58,206 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Diageo during the 4th quarter worth $123,892,000. 8.97% of the stock is currently owned by institutional investors.

Diageo Trading Down 3.5 %

Shares of DEO opened at $104.19 on Monday. The stock’s 50-day moving average price is $110.12 and its 200 day moving average price is $120.89. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. Diageo plc has a 12-month low of $98.84 and a 12-month high of $144.28. The firm has a market capitalization of $57.96 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 2.39 and a beta of 0.63.

Diageo Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. TD Cowen raised their price target on Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. UBS Group raised Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft raised Diageo from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Berenberg Bank assumed coverage on Diageo in a research report on Wednesday, April 2nd. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $129.00.

About Diageo

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.