Confluence Investment Management LLC Purchases 284,046 Shares of Diageo plc (NYSE:DEO)

Confluence Investment Management LLC boosted its position in shares of Diageo plc (NYSE:DEOFree Report) by 30.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,215,786 shares of the company’s stock after purchasing an additional 284,046 shares during the quarter. Diageo comprises 2.3% of Confluence Investment Management LLC’s holdings, making the stock its 3rd biggest position. Confluence Investment Management LLC owned 0.22% of Diageo worth $170,623,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DEO. Triad Wealth Partners LLC acquired a new position in Diageo during the second quarter valued at approximately $25,000. 1620 Investment Advisors Inc. bought a new stake in shares of Diageo in the 2nd quarter valued at $25,000. Beacon Capital Management LLC lifted its holdings in Diageo by 777.3% during the first quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock worth $29,000 after acquiring an additional 171 shares in the last quarter. Concord Wealth Partners acquired a new position in Diageo in the third quarter valued at about $38,000. Finally, Bruce G. Allen Investments LLC raised its position in shares of 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. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Stock Performance

Diageo stock opened at $121.73 on Friday. The company has a fifty day simple moving average of $132.96 and a 200 day simple moving average of $132.72. 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 1-year low of $118.35 and a 1-year high of $161.64.

Analysts Set New Price Targets

A number of research firms recently issued reports on DEO. The Goldman Sachs Group cut Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Royal Bank of Canada upgraded Diageo from an “underperform” rating to a “sector perform” rating in a report on Monday, August 12th. Finally, Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Diageo presently has a consensus rating of “Hold”.

Get Our Latest Stock Analysis on Diageo

About Diageo

(Free Report)

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.

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Institutional Ownership by Quarter for Diageo (NYSE:DEO)

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