Truist Financial Corp Lowers Stock Position in Diageo plc $DEO

Key Points

• Truist Financial Corp has reduced its stake in Diageo plc by 26.2%, holding 193,051 shares valued at approximately $19.47 million after selling 68,603 shares.
• Diageo announced a new semi-annual dividend of $2.5192 per share, up from its previous $1.62, with a payout ratio of 46.42%.
• Analysts have mixed opinions on Diageo, with four analysts rating it as a Buy, three as Hold, and two as Sell, reflecting a consensus rating of "Hold".

Truist Financial Corp lessened its stake in shares of Diageo plc (NYSE:DEO - Free Report) by 26.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,051 shares of the company's stock after selling 68,603 shares during the quarter. Truist Financial Corp's holdings in Diageo were worth $19,467,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of DEO. Brighton Jones LLC purchased a new position in shares of Diageo in the fourth quarter valued at approximately $202,000. GAMMA Investing LLC boosted its stake in shares of Diageo by 4,656.6% in the first quarter. GAMMA Investing LLC now owns 154,305 shares of the company's stock valued at $16,170,000 after purchasing an additional 151,061 shares during the period. Rhumbline Advisers boosted its stake in shares of Diageo by 6.7% in the first quarter. Rhumbline Advisers now owns 4,783 shares of the company's stock valued at $501,000 after purchasing an additional 299 shares during the period. NBC Securities Inc. boosted its stake in shares of Diageo by 109,700.0% in the first quarter. NBC Securities Inc. now owns 1,098 shares of the company's stock valued at $115,000 after purchasing an additional 1,097 shares during the period. Finally, Merit Financial Group LLC boosted its stake in shares of Diageo by 151.2% in the first quarter. Merit Financial Group LLC now owns 5,024 shares of the company's stock valued at $526,000 after purchasing an additional 3,024 shares during the period. Hedge funds and other institutional investors own 8.97% of the company's stock.

Diageo Stock Down 0.2%

Shares of Diageo stock opened at $96.17 on Friday. Diageo plc has a 52-week low of $93.42 and a 52-week high of $139.96. The company has a 50 day moving average of $104.86 and a 200 day moving average of $106.43. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $53.50 billion, a P/E ratio of 14.04, a P/E/G ratio of 3.45 and a beta of 0.58.

Diageo Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, October 17th will be issued a dividend of $2.5192 per share. The ex-dividend date of this dividend is Friday, October 17th. This is an increase from Diageo's previous semi-annual dividend of $1.62. This represents a yield of 370.0%. Diageo's dividend payout ratio is 46.42%.

Wall Street Analysts Forecast Growth

DEO has been the subject of several recent research reports. The Goldman Sachs Group raised shares of Diageo from a "sell" rating to a "neutral" rating in a research note on Thursday, August 7th. Bank of America lowered their price objective on shares of Diageo from $117.00 to $109.00 and set a "buy" rating for the company in a research note on Friday, September 26th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Diageo in a research note on Saturday, September 27th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Diageo currently has a consensus rating of "Hold" and an average price target of $119.00.

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.

Want to see what other hedge funds are holding DEO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diageo plc (NYSE:DEO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.