Brown Brothers Harriman & Co. Has $25.17 Million Position in Diageo plc (NYSE:DEO)

Brown Brothers Harriman & Co. cut its position in shares of Diageo plc (NYSE:DEO) by 82.8% during the third quarter, Holdings Channel reports. The institutional investor owned 179,377 shares of the company’s stock after selling 865,196 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Diageo were worth $25,174,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its holdings in shares of Diageo by 106.2% during the 3rd quarter. CIBC Asset Management Inc now owns 31,643 shares of the company’s stock worth $4,441,000 after purchasing an additional 16,300 shares in the last quarter. Confluence Investment Management LLC lifted its position in Diageo by 30.5% in the third quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock worth $170,623,000 after purchasing an additional 284,046 shares during the period. Grandfield & Dodd LLC boosted its stake in Diageo by 2.3% during the third quarter. Grandfield & Dodd LLC now owns 240,013 shares of the company’s stock worth $33,684,000 after buying an additional 5,460 shares in the last quarter. Cetera Investment Advisers increased its holdings in Diageo by 461.4% in the 1st quarter. Cetera Investment Advisers now owns 70,630 shares of the company’s stock valued at $10,506,000 after buying an additional 58,048 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Diageo in the 3rd quarter valued at $9,769,000. 8.97% of the stock is currently owned by institutional investors.

Diageo Trading Up 0.8 %

DEO opened at $121.00 on Monday. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62. The firm’s 50-day simple moving average is $130.48 and its 200-day simple moving average is $131.05. Diageo plc has a twelve month low of $117.72 and a twelve month high of $154.71.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Royal Bank of Canada upgraded shares of Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a research note on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Diageo Company Profile

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.