Verdence Capital Advisors LLC Makes New Investment in Diageo plc (NYSE:DEO)

Verdence Capital Advisors LLC bought a new stake in Diageo plc (NYSE:DEO - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,149 shares of the company's stock, valued at approximately $1,144,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new position in shares of Diageo during the 2nd quarter valued at $25,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Diageo in the 2nd quarter valued at about $25,000. Beacon Capital Management LLC increased its position in Diageo by 777.3% in the 1st quarter. Beacon Capital Management LLC now owns 193 shares of the company's stock valued at $29,000 after buying an additional 171 shares in the last quarter. Concord Wealth Partners acquired a new position in Diageo during the 3rd quarter worth approximately $38,000. Finally, Bruce G. Allen Investments LLC grew its stake in Diageo by 1,395.0% in the third quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company's stock valued at $42,000 after acquiring an additional 279 shares during the period. Institutional investors and hedge funds own 8.97% of the company's stock.

Diageo Price Performance

DEO traded up $0.05 on Monday, hitting $120.48. The company's stock had a trading volume of 653,541 shares, compared to its average volume of 754,254. The company's 50 day simple moving average is $132.52 and its 200-day simple moving average is $132.38. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62. Diageo plc has a 12 month low of $118.35 and a 12 month high of $154.71.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DEO. Bank of America upgraded shares of Diageo from a "neutral" rating to a "buy" rating in a report on Thursday, September 12th. Royal Bank of Canada upgraded Diageo from an "underperform" rating to a "sector perform" rating in a research note on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold".

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.