Confluence Investment Management LLC Has $130.12 Million Stake in Diageo plc $DEO

Confluence Investment Management LLC grew its stake in shares of Diageo plc (NYSE:DEO) by 0.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,363,504 shares of the company’s stock after buying an additional 12,678 shares during the period. Diageo makes up 1.9% of Confluence Investment Management LLC’s investment portfolio, making the stock its 17th biggest holding. Confluence Investment Management LLC owned about 0.25% of Diageo worth $130,119,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in DEO. Twin Peaks Wealth Advisors LLC acquired a new position in Diageo in the 2nd quarter valued at approximately $26,000. Truvestments Capital LLC bought a new stake in shares of Diageo during the first quarter valued at approximately $30,000. Bell Investment Advisors Inc raised its stake in shares of Diageo by 94.7% in the second quarter. Bell Investment Advisors Inc now owns 292 shares of the company’s stock valued at $29,000 after purchasing an additional 142 shares in the last quarter. HHM Wealth Advisors LLC lifted its position in Diageo by 76.5% in the second quarter. HHM Wealth Advisors LLC now owns 330 shares of the company’s stock worth $33,000 after purchasing an additional 143 shares during the period. Finally, Whipplewood Advisors LLC boosted its stake in Diageo by 84.0% during the second quarter. Whipplewood Advisors LLC now owns 357 shares of the company’s stock worth $36,000 after buying an additional 163 shares in the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Price Performance

Shares of DEO opened at $86.79 on Tuesday. Diageo plc has a one year low of $85.13 and a one year high of $127.90. The business’s 50 day simple moving average is $92.14 and its 200-day simple moving average is $99.67. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.63 and a quick ratio of 0.64.

Wall Street Analyst Weigh In

DEO has been the subject of a number of analyst reports. UBS Group reaffirmed a “neutral” rating on shares of Diageo in a report on Wednesday, December 3rd. Bank of America cut their price target on shares of Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research note on Friday, September 26th. Barclays reiterated an “overweight” rating on shares of Diageo in a research note on Thursday, December 11th. Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Diageo in a research note on Friday, November 28th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $119.00.

Diageo Profile

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.