Keudell Morrison Wealth Management Takes $372,000 Position in Diageo plc (NYSE:DEO)

Keudell Morrison Wealth Management purchased a new position in Diageo plc (NYSE:DEO) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,653 shares of the company’s stock, valued at approximately $372,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of DEO. Clearbridge Investments LLC boosted its holdings in shares of Diageo by 7.0% in the first quarter. Clearbridge Investments LLC now owns 2,351,654 shares of the company’s stock worth $349,785,000 after buying an additional 154,497 shares during the period. Markel Group Inc. boosted its stake in Diageo by 0.5% in the 2nd 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 period. Envestnet Asset Management Inc. grew its position 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 purchasing an additional 74,745 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Diageo by 2.2% during 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 purchasing an additional 23,435 shares during the period. Finally, Confluence Investment Management LLC raised its stake in Diageo by 10.5% during the 2nd quarter. Confluence Investment Management LLC now owns 931,740 shares of the company’s stock valued at $117,474,000 after purchasing an additional 88,159 shares during the period. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Price Performance

Shares of NYSE DEO traded up $2.91 during mid-day trading on Thursday, reaching $122.55. The company had a trading volume of 152,887 shares, compared to its average volume of 750,789. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. Diageo plc has a twelve month low of $118.35 and a twelve month high of $161.64. The stock’s 50 day moving average is $132.96 and its 200-day moving average is $132.72.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group downgraded Diageo from a “neutral” rating to a “sell” rating in a report on Friday, July 12th. Royal Bank of Canada upgraded Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Finally, Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 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 stock. According to data from MarketBeat, the stock has a consensus 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.