Confluence Investment Management LLC Purchases 8,521 Shares of Diageo plc (NYSE:DEO)

Confluence Investment Management LLC raised its stake in shares of Diageo plc (NYSE:DEO - Free Report) by 0.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,184,987 shares of the company's stock after buying an additional 8,521 shares during the quarter. Diageo comprises about 1.8% of Confluence Investment Management LLC's investment portfolio, making the stock its 16th biggest holding. Confluence Investment Management LLC owned about 0.21% of Diageo worth $124,175,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Diageo by 0.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 118,925 shares of the company's stock valued at $15,119,000 after acquiring an additional 559 shares in the last quarter. NorthCrest Asset Manangement LLC grew its position in Diageo by 0.9% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 61,053 shares of the company's stock valued at $7,762,000 after purchasing an additional 544 shares during the last quarter. Centaurus Financial Inc. increased its stake in Diageo by 32.7% during the 4th quarter. Centaurus Financial Inc. now owns 5,594 shares of the company's stock valued at $711,000 after purchasing an additional 1,378 shares in the last quarter. Lakeshore Capital Group Inc. purchased a new position in Diageo in the fourth quarter worth about $402,000. Finally, Heck Capital Advisors LLC purchased a new position in Diageo in the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 8.97% of the company's stock.

Diageo Price Performance

NYSE:DEO traded down $0.76 on Friday, reaching $108.89. 635,144 shares of the company's stock traded hands, compared to its average volume of 946,437. The stock has a 50-day simple moving average of $109.88 and a 200-day simple moving average of $114.78. Diageo plc has a 12 month low of $100.72 and a 12 month high of $142.73. The firm has a market cap of $60.58 billion, a PE ratio of 15.90, a P/E/G ratio of 2.39 and a beta of 0.60. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62.

Analyst Ratings Changes

A number of research firms have recently commented on DEO. Berenberg Bank began coverage on shares of Diageo in a report on Wednesday, April 2nd. They set a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft raised Diageo from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Morgan Stanley reissued an "underweight" rating on shares of Diageo in a report on Monday, May 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $129.00.

About Diageo

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.