Confluence Investment Management LLC Sells 39,320 Shares of Diageo plc (NYSE:DEO)

Confluence Investment Management LLC reduced its stake in Diageo plc (NYSE:DEO - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 investment portfolio, making the stock its 6th biggest holding. Confluence Investment Management LLC owned approximately 0.21% of Diageo worth $149,564,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Lantz Financial LLC lifted its position in shares of Diageo by 24.7% during the second quarter. Lantz Financial LLC now owns 11,704 shares of the company's stock worth $1,476,000 after purchasing an additional 2,318 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Diageo by 24.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,680 shares of the company's stock valued at $212,000 after buying an additional 330 shares during the last quarter. Rothschild Investment LLC purchased a new position in Diageo in the 2nd quarter valued at about $100,000. Commonwealth Equity Services LLC grew its stake in shares of Diageo by 11.7% during the second quarter. Commonwealth Equity Services LLC now owns 92,608 shares of the company's stock valued at $11,676,000 after acquiring an additional 9,694 shares in the last quarter. Finally, Financial Counselors Inc. increased its position in shares of 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 acquiring an additional 83 shares during the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Stock Performance

DEO traded down $1.01 during trading hours on Thursday, hitting $126.12. 885,120 shares of the stock were exchanged, compared to its average volume of 815,197. 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 12 month low of $117.72 and a 12 month high of $154.71. The stock has a 50-day simple moving average of $123.74 and a 200-day simple moving average of $128.57. The stock has a market cap of $70.16 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 3.59 and a beta of 0.69.

Analysts Set New Price Targets

DEO has been the topic of several analyst reports. Bank of America upgraded Diageo from a "neutral" rating to a "buy" rating in a report on Thursday, September 12th. Jefferies Financial Group upgraded shares of Diageo from a "hold" rating to a "buy" rating in a research note on Thursday, December 5th. Finally, UBS Group upgraded shares of Diageo from a "sell" rating to a "buy" rating in a research note on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently 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.