Cullen Capital Management LLC Has $56.09 Million Stock Position in Diageo plc $DEO

Cullen Capital Management LLC lowered its holdings in shares of Diageo plc (NYSE:DEO) by 50.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 650,211 shares of the company’s stock after selling 659,047 shares during the period. Cullen Capital Management LLC’s holdings in Diageo were worth $56,094,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Causeway Capital Management LLC raised its holdings in shares of Diageo by 8.4% during the 3rd quarter. Causeway Capital Management LLC now owns 466,866 shares of the company’s stock worth $44,553,000 after buying an additional 36,156 shares in the last quarter. Third View Private Wealth LLC acquired a new position in shares of Diageo during the 4th quarter worth $1,111,000. First Eagle Investment Management LLC raised its holdings in shares of Diageo by 90.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 132,978 shares of the company’s stock worth $12,690,000 after buying an additional 63,119 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Diageo by 95.0% during the 3rd quarter. Assetmark Inc. now owns 229,780 shares of the company’s stock worth $21,928,000 after buying an additional 111,968 shares in the last quarter. Finally, Cantor Fitzgerald L. P. acquired a new position in shares of Diageo during the 3rd quarter worth $3,328,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Stock Performance

Shares of DEO opened at $81.78 on Friday. Diageo plc has a 12-month low of $72.45 and a 12-month high of $116.41. The business has a 50-day simple moving average of $80.77 and a two-hundred day simple moving average of $85.23. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53.

Diageo Announces Dividend

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

Analyst Ratings Changes

DEO has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. HSBC cut Diageo from a “buy” rating to a “hold” rating in a report on Monday, March 2nd. Argus raised Diageo to a “hold” rating in a report on Tuesday, March 10th. Zacks Research raised Diageo from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a report on Monday, April 20th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $116.50.

About Diageo

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.