Confluence Investment Management LLC Has $94.75 Million Stock Position in Diageo plc $DEO

Confluence Investment Management LLC lowered its position in Diageo plc (NYSE:DEO) by 19.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,098,320 shares of the company’s stock after selling 265,184 shares during the quarter. Diageo comprises 1.4% of Confluence Investment Management LLC’s portfolio, making the stock its 29th biggest position. Confluence Investment Management LLC’s holdings in Diageo were worth $94,752,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Twin Peaks Wealth Advisors LLC bought a new position in Diageo in the 2nd quarter valued at $26,000. Arlington Trust Co LLC grew its holdings in shares of Diageo by 3,885.7% during the third quarter. Arlington Trust Co LLC now owns 279 shares of the company’s stock worth $27,000 after purchasing an additional 272 shares during the last quarter. New England Capital Financial Advisors LLC bought a new stake in shares of Diageo during the third quarter worth $29,000. Texas Capital Bancshares Inc TX acquired a new stake in shares of Diageo in the third quarter valued at $32,000. Finally, HHM Wealth Advisors LLC increased its stake in shares of Diageo by 76.5% in the second quarter. HHM Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $33,000 after buying an additional 143 shares in the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on DEO shares. UBS Group reiterated a “neutral” rating on shares of Diageo in a research report on Wednesday, December 3rd. HSBC cut shares of Diageo from a “buy” rating to a “hold” rating in a research report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Diageo in a report on Friday, November 28th. Argus upgraded Diageo to a “hold” rating in a research report on Tuesday, March 10th. Finally, Sanford C. Bernstein set a $124.00 target price on Diageo and gave the stock an “outperform” rating in a research report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $116.50.

Diageo Stock Performance

Shares of NYSE DEO opened at $74.68 on Friday. Diageo plc has a 52-week low of $74.46 and a 52-week high of $116.69. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.71 and a current ratio of 1.60. The firm has a 50 day moving average price of $89.63 and a 200 day moving average price of $92.44.

Diageo Announces Dividend

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

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.