Diageo plc (NYSE:DEO) Position Lessened by Confluence Investment Management LLC

Confluence Investment Management LLC reduced its position in Diageo plc (NYSE:DEO) by 3.2% in the 4th quarter, Holdings Channel reports. The fund owned 1,176,466 shares of the company’s stock after selling 39,320 shares during the period. Diageo makes up about 2.1% of Confluence Investment Management LLC’s investment portfolio, making the stock its 6th biggest position. Confluence Investment Management LLC’s holdings in Diageo were worth $149,564,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in shares of Diageo during the 3rd quarter valued at about $25,000. Concord Wealth Partners acquired a new position in Diageo during the third quarter worth approximately $38,000. Bruce G. Allen Investments LLC raised its stake in Diageo by 1,395.0% during the third quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock worth $42,000 after purchasing an additional 279 shares during the period. Davis Capital Management acquired a new position in shares of Diageo in the 3rd quarter valued at $55,000. Finally, Maryland Capital Advisors Inc. purchased a new stake in shares of Diageo during the 3rd quarter valued at $56,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DEO has been the topic of several research reports. Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Finally, Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold”.

Diageo Stock Down 0.9 %

Shares of NYSE DEO traded down $1.13 on Thursday, hitting $126.00. The company had a trading volume of 230,233 shares, compared to its average volume of 815,197. The firm has a market capitalization of $70.09 billion, a P/E ratio of 18.26, a PEG ratio of 3.59 and a beta of 0.69. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62. Diageo plc has a 12-month low of $117.72 and a 12-month high of $154.71. The business has a 50 day moving average of $123.91 and a two-hundred day moving average of $128.58.

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.