Diageo plc $DEO Stock Position Decreased by Confluence Investment Management LLC

Confluence Investment Management LLC lowered its position in Diageo plc (NYSE:DEO) by 19.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,098,320 shares of the company’s stock after selling 265,184 shares during the period. Diageo accounts for 1.4% of Confluence Investment Management LLC’s portfolio, making the stock its 29th largest holding. Confluence Investment Management LLC owned 0.20% of Diageo worth $94,752,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DEO. The Manufacturers Life Insurance Company raised its holdings in shares of Diageo by 72,871.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,568,162 shares of the company’s stock valued at $158,133,000 after purchasing an additional 1,566,013 shares in the last quarter. Equity Investment Corp acquired a new stake in shares of Diageo in the 3rd quarter valued at $92,970,000. Orbis Allan Gray Ltd boosted its holdings in Diageo by 236.6% in the second quarter. Orbis Allan Gray Ltd now owns 1,157,991 shares of the company’s stock worth $116,772,000 after purchasing an additional 813,973 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Diageo by 353.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 717,740 shares of the company’s stock worth $72,377,000 after purchasing an additional 559,547 shares in the last quarter. Finally, Raymond James Financial Inc. increased its position in Diageo by 48.5% during the third quarter. Raymond James Financial Inc. now owns 1,701,878 shares of the company’s stock worth $162,410,000 after buying an additional 555,509 shares during the last quarter. Institutional investors own 8.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on DEO shares. Barclays reissued an “overweight” rating on shares of Diageo in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research report on Wednesday, January 21st. Royal Bank Of Canada upgraded Diageo from a “sector perform” rating to an “outperform” rating in a report on Tuesday, January 6th. HSBC lowered shares of Diageo from a “buy” rating to a “hold” rating in a research report on Monday, March 2nd. Finally, Sanford C. Bernstein set a $124.00 price objective on shares of Diageo and gave the stock an “outperform” rating in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $116.50.

Diageo Stock Down 0.7%

Shares of Diageo stock opened at $74.68 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.71. Diageo plc has a fifty-two week low of $74.46 and a fifty-two week high of $116.69. The firm has a fifty day moving average price of $89.63 and a two-hundred day moving average price of $92.44.

Diageo Announces Dividend

The firm also recently declared a dividend, which will be paid on Thursday, June 4th. Investors of record on Friday, April 17th will be given a $0.80 dividend. This represents a yield of 207.0%. The ex-dividend date of this dividend is Friday, April 17th.

About Diageo

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.