Cullen Capital Management LLC Sells 659,047 Shares of Diageo plc $DEO

Cullen Capital Management LLC cut its position in Diageo plc (NYSE:DEO) by 50.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 650,211 shares of the company’s stock after selling 659,047 shares during the quarter. Cullen Capital Management LLC owned about 0.12% of Diageo worth $56,094,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Spire Wealth Management boosted its stake in Diageo by 123.6% in the 4th quarter. Spire Wealth Management now owns 322 shares of the company’s stock valued at $28,000 after purchasing an additional 178 shares during the period. Sound Income Strategies LLC boosted its stake in Diageo by 8,000.0% in the 4th quarter. Sound Income Strategies LLC now owns 324 shares of the company’s stock valued at $29,000 after purchasing an additional 320 shares during the period. Flagship Harbor Advisors LLC bought a new stake in Diageo in the 4th quarter valued at $30,000. Texas Capital Bancshares Inc TX bought a new stake in Diageo in the 3rd quarter valued at $32,000. Finally, GGM Financials LLC bought a new stake in shares of Diageo during the 3rd quarter valued at $36,000. 8.97% of the stock is currently owned by institutional investors.

Diageo Price Performance

NYSE:DEO opened at $81.78 on Friday. The stock has a fifty day moving average price of $80.77 and a 200-day moving average price of $85.23. The company has a current ratio of 1.60, a quick ratio of 0.71 and a debt-to-equity ratio of 1.53. Diageo plc has a fifty-two week low of $72.45 and a fifty-two week high of $116.41.

Diageo Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, June 4th. Stockholders of record on Friday, April 17th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, April 17th. This represents a dividend yield of 195.0%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DEO. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Argus upgraded Diageo to a “hold” rating in a research report on Tuesday, March 10th. HSBC downgraded Diageo from a “buy” rating to a “hold” rating in a research report on Monday, March 2nd. Zacks Research upgraded Diageo from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a research report on Monday, April 20th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $116.50.

Diageo 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.