Federated Hermes Inc. Sells 56,958 Shares of Diageo plc (NYSE:DEO)

Federated Hermes Inc. cut its stake in shares of Diageo plc (NYSE:DEO) by 7.4% in the fourth quarter, Holdings Channel reports. The fund owned 711,147 shares of the company’s stock after selling 56,958 shares during the period. Federated Hermes Inc.’s holdings in Diageo were worth $90,408,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CoreFirst Bank & Trust acquired a new stake in shares of Diageo during the 4th quarter worth about $25,000. Eastern Bank increased its holdings in shares of Diageo by 107.8% during the fourth 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 acquired a new stake in shares of Diageo during the fourth quarter worth approximately $35,000. Kestra Investment Management LLC acquired a new position in shares of Diageo in the 4th quarter worth approximately $36,000. Finally, Heck Capital Advisors LLC bought a new stake in Diageo during the 4th quarter worth approximately $47,000. 8.97% of the stock is owned by institutional investors.

Diageo Price Performance

Shares of DEO stock opened at $104.19 on Monday. The firm has a market cap of $57.96 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 2.39 and a beta of 0.63. Diageo plc has a 12 month low of $98.84 and a 12 month high of $144.28. 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 stock has a 50-day moving average price of $110.12 and a 200 day moving average price of $120.89.

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 paid a dividend of $1.62 per share. This represents a dividend 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

Several equities analysts have issued reports on the company. Berenberg Bank began coverage on Diageo in a research report on Wednesday, April 2nd. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. TD Cowen raised their price objective on shares of Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. Finally, UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Diageo has an average rating of “Hold” and a consensus price target 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.