Oppenheimer & Co. Inc. Sells 4,710 Shares of Diageo plc (NYSE:DEO)

Oppenheimer & Co. Inc. lowered its stake in shares of Diageo plc (NYSE:DEO) by 21.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,764 shares of the company’s stock after selling 4,710 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Diageo were worth $2,353,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Clearbridge Investments LLC raised its position in shares of 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 acquiring an additional 154,497 shares during the last quarter. Markel Group Inc. raised its holdings 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 purchasing an additional 6,300 shares during the last quarter. Confluence Investment Management LLC lifted its position in Diageo by 30.5% during 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 period. Envestnet Asset Management Inc. boosted 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 purchasing an additional 74,745 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Diageo by 2.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,106,473 shares of the company’s stock worth $139,504,000 after buying an additional 23,435 shares during the period. Institutional investors and hedge funds own 8.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Royal Bank of Canada upgraded shares of Diageo from an “underperform” rating to a “sector perform” rating in a report on Monday, August 12th. Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Diageo has an average rating of “Hold”.

Diageo Stock Performance

Diageo stock opened at $118.16 on Friday. The company’s 50 day simple moving average is $131.57 and its 200 day simple moving average is $131.80. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55. Diageo plc has a fifty-two week low of $117.84 and a fifty-two week 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.