Diageo plc (NYSE:DEO) is among the 15 Global Dividend Stocks to Diversify Your Portfolio. Morgan Stanley recently cut its target on DEO to 1,530 GBp from 1,595 GBp while keeping an Underweight rating on the shares. Diageo announced a $2.3 billion asset sale of its stake in its Kenyan business to Asahi to reduce debt. The deal is expected to lower Diageo’s net debt-to-earnings ratio by about 0.25 times. Asahi will pay close to $3 billion for the transaction. Earlier this year, interim chief executive Nik Jhangiani said significant divestments were planned to ease pressure on the balance sheet due to weaker alcohol demand and trade tariffs. Diageo produces and distributes alcoholic beverages, including popular brands like Johnnie Walker and Crown Royal.

Read more at Yahoo Finance: Morgan Stanley Cuts Target on Diageo (DEO) as Growth Pressures Persist