Diageo plc (NYSE:DEO) Shares Purchased by Confluence Investment Management LLC

Confluence Investment Management LLC lifted its position in shares of Diageo plc (NYSE:DEO) by 30.5% during the 3rd quarter, Holdings Channel reports. The firm 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 portfolio, making the stock its 3rd biggest holding. Confluence Investment Management LLC’s holdings in Diageo were worth $170,623,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Clearbridge Investments LLC boosted its holdings in shares of Diageo by 7.0% during the 1st quarter. Clearbridge Investments LLC now owns 2,351,654 shares of the company’s stock worth $349,785,000 after buying an additional 154,497 shares during the period. Markel Group Inc. grew 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 valued at $172,315,000 after purchasing an additional 6,300 shares during the last quarter. Envestnet Asset Management Inc. increased its stake 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 worth $142,165,000 after purchasing an additional 74,745 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Diageo by 2.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,106,473 shares of the company’s stock worth $139,504,000 after purchasing an additional 23,435 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Diageo by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 899,660 shares of the company’s stock valued at $113,429,000 after purchasing an additional 15,363 shares during the period. 8.97% of the stock is owned by institutional investors.

Diageo Price Performance

DEO opened at $121.73 on Friday. The company’s 50 day moving average is $132.96 and its 200-day moving average is $132.72. Diageo plc has a 1-year low of $118.35 and a 1-year high of $161.64. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada raised Diageo from an “underperform” rating to a “sector perform” rating in a report on Monday, August 12th. Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, The Goldman Sachs Group downgraded shares of Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Diageo has an average rating of “Hold”.

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.