CORDA Investment Management LLC. Has $32.57 Million Position in Diageo plc (NYSE:DEO)

CORDA Investment Management LLC. increased its stake in shares of Diageo plc (NYSE:DEO) by 2.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 232,077 shares of the company’s stock after buying an additional 5,066 shares during the quarter. Diageo accounts for about 2.5% of CORDA Investment Management LLC.’s investment portfolio, making the stock its 18th largest holding. CORDA Investment Management LLC.’s holdings in Diageo were worth $32,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Clearbridge Investments LLC lifted its stake in Diageo by 7.0% during the first quarter. Clearbridge Investments LLC now owns 2,351,654 shares of the company’s stock worth $349,785,000 after purchasing an additional 154,497 shares during the last quarter. Markel Group Inc. lifted its stake in Diageo by 0.5% during the second quarter. Markel Group Inc. now owns 1,366,708 shares of the company’s stock worth $172,315,000 after purchasing an additional 6,300 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Diageo by 7.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock valued at $142,165,000 after acquiring an additional 74,745 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Diageo by 2.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,106,473 shares of the company’s stock valued at $139,504,000 after acquiring an additional 23,435 shares during the last quarter. Finally, Confluence Investment Management LLC lifted its stake in shares of Diageo by 10.5% in the 2nd quarter. Confluence Investment Management LLC now owns 931,740 shares of the company’s stock valued at $117,474,000 after acquiring an additional 88,159 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Price Performance

Shares of NYSE:DEO opened at $125.29 on Monday. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62. Diageo plc has a 12-month low of $119.48 and a 12-month high of $161.64. The business has a fifty day simple moving average of $133.68 and a 200 day simple moving average of $133.05.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DEO shares. Royal Bank of Canada upgraded Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, The Goldman Sachs Group cut Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

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.