Diageo plc (NYSE:DEO) is Confluence Investment Management LLC’s 6th Largest Position

Confluence Investment Management LLC reduced its stake in shares of Diageo plc (NYSE:DEO) by 3.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 holdings, making the stock its 6th largest position. Confluence Investment Management LLC owned about 0.21% of Diageo worth $149,564,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Financial Counselors Inc. boosted its holdings in Diageo by 3.3% during the second quarter. Financial Counselors Inc. now owns 2,587 shares of the company’s stock worth $326,000 after buying an additional 83 shares in the last quarter. PFG Investments LLC grew its holdings in shares of Diageo by 3.4% in the 2nd quarter. PFG Investments LLC now owns 2,516 shares of the company’s stock worth $317,000 after acquiring an additional 83 shares during the period. Global Retirement Partners LLC increased its stake in Diageo by 1.1% in the 3rd quarter. Global Retirement Partners LLC now owns 8,146 shares of the company’s stock valued at $1,143,000 after purchasing an additional 85 shares in the last quarter. Pinnacle West Asset Management Inc. raised its holdings in Diageo by 3.6% during the second quarter. Pinnacle West Asset Management Inc. now owns 2,590 shares of the company’s stock worth $327,000 after purchasing an additional 90 shares during the last quarter. Finally, Tortoise Investment Management LLC boosted its position in Diageo by 20.0% during the second quarter. Tortoise Investment Management LLC now owns 575 shares of the company’s stock worth $73,000 after purchasing an additional 96 shares in the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on DEO shares. Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Finally, Bank of America raised shares of Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Diageo Price Performance

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 company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. The company has a market cap of $70.09 billion, a PE ratio of 18.26, a PEG ratio of 3.59 and a beta of 0.69. Diageo plc has a 52-week low of $117.72 and a 52-week high of $154.71. The business has a 50 day moving average of $123.91 and a 200 day moving average of $128.58.

Diageo 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.