Diageo plc (NYSE:DEO) Holdings Lowered by Absher Wealth Management LLC

Absher Wealth Management LLC lowered its position in Diageo plc (NYSE:DEO - Free Report) by 71.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,850 shares of the company's stock after selling 14,757 shares during the quarter. Absher Wealth Management LLC's holdings in Diageo were worth $821,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clearbridge Investments LLC grew its position in shares of Diageo by 7.0% during the first 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 in the last quarter. Markel Group Inc. increased its holdings in shares of Diageo by 0.5% in the 2nd quarter. Markel Group Inc. now owns 1,366,708 shares of the company's stock valued at $172,315,000 after acquiring an additional 6,300 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in 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 last quarter. Massachusetts Financial Services Co. MA lifted its stake in Diageo by 2.2% during the second 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, Confluence Investment Management LLC boosted its holdings in Diageo by 10.5% in the second quarter. Confluence Investment Management LLC now owns 931,740 shares of the company's stock worth $117,474,000 after purchasing an additional 88,159 shares during the period. 8.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Diageo Stock Up 0.1 %

DEO stock traded up $0.16 during trading on Friday, reaching $124.32. 582,010 shares of the company's stock were exchanged, compared to its average volume of 753,377. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. Diageo plc has a 1-year low of $119.48 and a 1-year high of $161.64. The company's fifty day moving average price is $133.90 and its 200-day moving average price is $133.21.

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.