Truist Financial Corp Has $12.64 Million Stock Holdings in Diageo plc $DEO

Key Points

• Truist trimmed its stake in Diageo by 23.9% in Q4, selling 46,097 shares and leaving 146,471 shares valued at about $12.64 million.
• Analysts hold a consensus "Hold" rating on DEO with a consensus target price of $116.50; breakdown: 5 Buy, 6 Hold and 2 Sell.
• Diageo declared a $0.80 dividend payable June 4 (record/ex‑dividend date April 17), and the stock is trading near $83.40 with a 12‑month range of $72.45–$116.69.

Truist Financial Corp trimmed its holdings in shares of Diageo plc (NYSE:DEO - Free Report) by 23.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 146,471 shares of the company's stock after selling 46,097 shares during the period. Truist Financial Corp's holdings in Diageo were worth $12,636,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of DEO. Equity Investment Corp purchased a new stake in shares of Diageo in the third quarter worth approximately $92,970,000. Federated Hermes Inc. grew its position in Diageo by 7.2% during the third quarter. Federated Hermes Inc. now owns 726,578 shares of the company's stock valued at $69,337,000 after purchasing an additional 48,909 shares in the last quarter. CORDA Investment Management LLC. acquired a new position in Diageo in the 3rd quarter valued at approximately $14,329,000. Causeway Capital Management LLC increased its stake in Diageo by 8.4% in the 3rd quarter. Causeway Capital Management LLC now owns 466,866 shares of the company's stock valued at $44,553,000 after buying an additional 36,156 shares during the period. Finally, Third View Private Wealth LLC purchased a new stake in Diageo in the 4th quarter worth approximately $1,111,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on DEO. Argus raised shares of Diageo to a "hold" rating in a research note on Tuesday, March 10th. Weiss Ratings reiterated a "sell (d)" rating on shares of Diageo in a report on Monday, April 20th. Zacks Research raised Diageo from a "strong sell" rating to a "hold" rating in a research report on Monday, March 23rd. HSBC downgraded Diageo from a "buy" rating to a "hold" rating in a research note on Monday, March 2nd. Finally, BNP Paribas Exane raised Diageo from an "underperform" rating to a "neutral" rating in a research report on Wednesday, March 25th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $116.50.

Diageo Stock Performance

Shares of DEO opened at $83.40 on Friday. The company's fifty day moving average is $78.82 and its 200-day moving average is $87.25. Diageo plc has a 12 month low of $72.45 and a 12 month high of $116.69. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.71 and a current ratio of 1.60.

Diageo Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, June 4th. Investors of record on Friday, April 17th will be issued a $0.80 dividend. The ex-dividend date is Friday, April 17th. This represents a yield of 195.0%.

Diageo Company Profile

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange NYSE: DEO and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo's core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.

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