Concurrent Investment Advisors LLC Increases Position in Diageo plc (NYSE:DEO)

Concurrent Investment Advisors LLC raised its position in shares of Diageo plc (NYSE:DEO) by 5.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,199 shares of the company’s stock after buying an additional 762 shares during the period. Concurrent Investment Advisors LLC’s holdings in Diageo were worth $2,133,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of DEO. Clearbridge Investments LLC grew its position in Diageo by 7.0% in the 1st quarter. Clearbridge Investments LLC now owns 2,351,654 shares of the company’s stock valued at $349,785,000 after acquiring an additional 154,497 shares in the last quarter. Markel Group Inc. increased its stake in Diageo by 0.5% during the 2nd quarter. Markel Group Inc. now owns 1,366,708 shares of the company’s stock worth $172,315,000 after buying an additional 6,300 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Diageo by 7.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock worth $142,165,000 after buying an additional 74,745 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in 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 buying an additional 23,435 shares during the period. Finally, Confluence Investment Management LLC grew its stake in shares of Diageo by 10.5% in the second quarter. Confluence Investment Management LLC now owns 931,740 shares of the company’s stock worth $117,474,000 after acquiring an additional 88,159 shares in the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Stock Up 1.7 %

Diageo stock opened at $121.73 on Friday. Diageo plc has a 1-year low of $118.35 and a 1-year high of $161.64. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53. The stock’s fifty day moving average is $132.96 and its two-hundred day moving average is $132.72.

Analyst Upgrades and Downgrades

DEO has been the topic of several analyst reports. 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 lowered shares of Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Diageo has an average rating of “Hold”.

Diageo Profile

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.