Cypress Capital Group Trims Stock Position in Diageo plc (NYSE:DEO)

Cypress Capital Group lessened its stake in Diageo plc (NYSE:DEO) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,400 shares of the company’s stock after selling 98 shares during the period. Cypress Capital Group’s holdings in Diageo were worth $432,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group purchased a new position in Diageo in the 3rd quarter worth approximately $25,000. Eastern Bank grew its stake in Diageo by 107.8% in the 4th quarter. Eastern Bank now owns 241 shares of the company’s stock worth $31,000 after buying an additional 125 shares in the last quarter. Modus Advisors LLC purchased a new position in Diageo in the 4th quarter worth approximately $35,000. Kestra Investment Management LLC purchased a new position in Diageo in the 4th quarter worth approximately $36,000. Finally, Heck Capital Advisors LLC purchased a new position in Diageo in the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Price Performance

Shares of Diageo stock opened at $114.12 on Thursday. Diageo plc has a 52-week low of $105.72 and a 52-week high of $151.76. The stock has a market capitalization of $63.49 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 2.39 and a beta of 0.65. The company has a fifty day moving average of $116.44 and a 200-day moving average of $124.59. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60.

Diageo Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on DEO shares. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “sell” rating to a “hold” rating in a research note on Monday. TD Cowen upped their price objective 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. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. Finally, UBS Group raised shares of 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, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.