Diageo plc (NYSE:DEO) Shares Sold by Tower Bridge Advisors

Tower Bridge Advisors lowered its holdings in Diageo plc (NYSE:DEO) by 8.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,528 shares of the company’s stock after selling 4,530 shares during the period. Tower Bridge Advisors’ holdings in Diageo were worth $6,670,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Confluence Investment Management LLC lifted its position in Diageo by 30.5% in the 3rd quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock valued at $170,623,000 after purchasing an additional 284,046 shares during the last quarter. Cetera Investment Advisers increased its position in Diageo by 461.4% in the 1st quarter. Cetera Investment Advisers now owns 70,630 shares of the company’s stock valued at $10,506,000 after acquiring an additional 58,048 shares during the period. International Assets Investment Management LLC bought a new stake in Diageo during the 3rd quarter valued at $9,769,000. Eldred Rock Partners LLC boosted its position in Diageo by 120.5% during the 3rd quarter. Eldred Rock Partners LLC now owns 54,769 shares of the company’s stock worth $7,752,000 after acquiring an additional 29,928 shares during the period. Finally, Townsend & Associates Inc acquired a new position in shares of Diageo during the third quarter valued at $12,725,000. Institutional investors own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

DEO has been the subject of a number of recent analyst reports. Royal Bank of Canada upgraded shares of Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Bank of America raised Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold”.

Diageo Trading Down 1.4 %

Shares of DEO opened at $118.16 on Friday. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62. The firm’s 50 day moving average is $131.57 and its 200-day moving average is $131.76. Diageo plc has a 12-month low of $117.84 and a 12-month high of $154.71.

Diageo Company 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.