Diageo plc (NYSE:DEO) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in Diageo plc (NYSE:DEO) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 348,598 shares of the company’s stock after buying an additional 8,656 shares during the quarter. Bank of New York Mellon Corp owned about 0.06% of Diageo worth $44,317,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in Diageo during the third quarter worth about $25,000. Eastern Bank increased 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 purchased a new stake in Diageo during the fourth quarter worth about $35,000. Kestra Investment Management LLC purchased a new stake in Diageo during the fourth quarter worth about $36,000. Finally, Heck Capital Advisors LLC purchased a new stake in Diageo during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Stock Performance

Shares of DEO opened at $114.16 on Friday. The stock has a 50 day moving average price of $116.18 and a 200 day moving average price of $124.51. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $63.51 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 2.39 and a beta of 0.65. Diageo plc has a 52-week low of $105.72 and a 52-week high of $151.76.

Diageo Dividend Announcement

The firm 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 $1.62 dividend. This represents a yield of 3.8%. The ex-dividend date is Friday, February 28th. Diageo’s dividend payout ratio (DPR) is 46.42%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DEO shares. TD Cowen boosted their price target on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a “sell” rating to a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.