Phraction Management LLC Sells 1,780 Shares of Diageo plc (NYSE:DEO)

Phraction Management LLC lessened its position in Diageo plc (NYSE:DEO) by 10.2% in the third quarter, Holdings Channel.com reports. The firm owned 15,647 shares of the company’s stock after selling 1,780 shares during the quarter. Diageo comprises 0.8% of Phraction Management LLC’s portfolio, making the stock its 25th biggest holding. Phraction Management LLC’s holdings in Diageo were worth $2,196,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DEO. Confluence Investment Management LLC increased its stake in shares of Diageo by 30.5% in the third quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock valued at $170,623,000 after buying an additional 284,046 shares during the period. 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 position in shares of Diageo during the third quarter valued at $9,769,000. Eldred Rock Partners LLC lifted its holdings in shares of Diageo by 120.5% during the third quarter. Eldred Rock Partners LLC now owns 54,769 shares of the company’s stock worth $7,752,000 after purchasing an additional 29,928 shares during the period. Finally, Townsend & Associates Inc bought a new stake in shares of Diageo in the third quarter worth $12,725,000. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Trading Down 1.4 %

DEO stock opened at $118.16 on Friday. 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 company’s fifty day simple moving average is $131.57 and its 200 day simple moving average is $131.76. Diageo plc has a 12-month low of $117.84 and a 12-month high of $154.71.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on DEO shares. Royal Bank of Canada raised Diageo from an “underperform” rating to a “sector perform” rating in a research 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 equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Diageo currently has an average rating of “Hold”.

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.