Diageo plc (NYSE:DEO) Stake Trimmed by Tower Bridge Advisors

Tower Bridge Advisors trimmed its position in Diageo plc (NYSE:DEO) by 8.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,528 shares of the company’s stock after selling 4,530 shares during the quarter. Tower Bridge Advisors’ holdings in Diageo were worth $6,670,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Clearbridge Investments LLC boosted its stake in Diageo by 7.0% in the 1st quarter. Clearbridge Investments LLC now owns 2,351,654 shares of the company’s stock worth $349,785,000 after purchasing an additional 154,497 shares during the period. Markel Group Inc. boosted its position in shares of Diageo by 0.5% in the second quarter. Markel Group Inc. now owns 1,366,708 shares of the company’s stock worth $172,315,000 after buying an additional 6,300 shares during the period. Confluence Investment Management LLC grew its holdings in shares of Diageo by 30.5% during the third quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock valued at $170,623,000 after buying an additional 284,046 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Diageo by 7.1% during the second quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock valued at $142,165,000 after buying an additional 74,745 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Diageo by 2.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,106,473 shares of the company’s stock valued at $139,504,000 after buying an additional 23,435 shares in the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Royal Bank of Canada upgraded Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Three 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 company. According to data from MarketBeat, the company presently has an average rating of “Hold”.

Diageo Stock Performance

DEO opened at $118.16 on Friday. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55. Diageo plc has a 1 year low of $117.84 and a 1 year high of $154.71. The stock has a fifty day moving average price of $131.57 and a 200 day moving average price of $131.76.

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.