Bank of Nova Scotia Sells 4,744 Shares of Diageo plc (NYSE:DEO)

Bank of Nova Scotia cut its holdings in shares of Diageo plc (NYSE:DEO - Free Report) by 25.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,152 shares of the company's stock after selling 4,744 shares during the quarter. Bank of Nova Scotia's holdings in Diageo were worth $1,801,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of DEO. CoreFirst Bank & Trust bought a new position in Diageo during the fourth quarter valued at about $25,000. Eastern Bank lifted its stake in Diageo by 107.8% during the fourth quarter. Eastern Bank now owns 241 shares of the company's stock worth $31,000 after purchasing an additional 125 shares during the period. Modus Advisors LLC bought a new position in shares of Diageo during the 4th quarter worth approximately $35,000. Kestra Investment Management LLC bought a new position in shares of Diageo during the fourth quarter valued at $36,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Diageo in the 4th quarter valued at $47,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Stock Up 1.1 %

NYSE:DEO traded up $1.19 on Friday, hitting $109.39. 1,291,703 shares of the company's stock were exchanged, compared to its average volume of 925,437. The firm has a 50-day moving average price of $107.85 and a 200-day moving average price of $118.92. Diageo plc has a 52 week low of $100.72 and a 52 week high of $144.27. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. The company has a market cap of $60.85 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63.

Diageo Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DEO. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Berenberg Bank assumed coverage on shares of Diageo in a research note on Wednesday, April 2nd. They issued a "buy" rating for the company. Finally, TD Cowen increased their price target on Diageo from $124.00 to $129.00 and gave the stock a "hold" rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock 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.