Diageo plc $DEO Stock Sold by Confluence Investment Management LLC

Confluence Investment Management LLC reduced its stake in shares of Diageo plc (NYSE:DEO) by 87.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,892 shares of the company’s stock after selling 676,044 shares during the quarter. Confluence Investment Management LLC’s holdings in Diageo were worth $8,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. QRG Capital Management Inc. increased its holdings in shares of Diageo by 26.1% in the second quarter. QRG Capital Management Inc. now owns 15,803 shares of the company’s stock worth $1,270,000 after purchasing an additional 3,271 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Diageo by 2.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,513 shares of the company’s stock valued at $443,000 after buying an additional 152 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Diageo by 18.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,508 shares of the company’s stock valued at $443,000 after buying an additional 850 shares in the last quarter. Tidal Investments LLC increased its stake in Diageo by 53.2% in the 2nd quarter. Tidal Investments LLC now owns 109,743 shares of the company’s stock worth $8,821,000 after acquiring an additional 38,104 shares during the last quarter. Finally, WINTON GROUP Ltd raised its holdings in shares of Diageo by 637.8% during the 2nd quarter. WINTON GROUP Ltd now owns 22,135 shares of the company’s stock worth $1,779,000 after acquiring an additional 19,135 shares in the last quarter. Institutional investors own 8.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Loop Capital set a $99.00 target price on Diageo in a research report on Thursday, June 18th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research note on Friday, July 17th. TD Cowen reiterated a “buy” rating on shares of Diageo in a research report on Monday, August 10th. UBS Group reissued a “neutral” rating on shares of Diageo in a research note on Thursday, August 27th. Finally, Zacks Research upgraded shares of Diageo from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Diageo has an average rating of “Hold” and a consensus price target of $105.33.

Diageo Trading Down 1.8%

Shares of Diageo stock traded down $1.51 on Thursday, reaching $84.09. The company had a trading volume of 654,996 shares, compared to its average volume of 1,475,438. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.62. The firm’s 50-day moving average price is $89.67 and its two-hundred day moving average price is $83.54. Diageo plc has a 1 year low of $72.45 and a 1 year high of $102.74.

Diageo Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Friday, October 16th will be given a dividend of $1.20 per share. The ex-dividend date is Friday, October 16th. This represents a yield of 252.0%.

About Diageo

Diageo plc is a global beverage alcohol company headquartered in London, England. The company produces, markets and distributes a broad portfolio of spirits, beer and ready-to-drink beverages through a collection of internationally recognized brands.

Its portfolio includes Johnnie Walker, Crown Royal, Buchanan’s and Talisker whiskies; Smirnoff, Cîroc and Ketel One vodkas; Tanqueray and Gordon’s gins; Baileys liqueur; Don Julio and Casamigos tequila; Captain Morgan rum; and Guinness beer.