NewEdge Wealth LLC Acquires 9,350 Shares of Diageo plc $DEO

NewEdge Wealth LLC raised its stake in shares of Diageo plc (NYSE:DEO) by 45.8% in the first quarter, Holdings Channel.com reports. The firm owned 29,744 shares of the company’s stock after buying an additional 9,350 shares during the period. NewEdge Wealth LLC’s holdings in Diageo were worth $2,214,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DEO. Glenview Trust Co raised its stake in shares of Diageo by 3.7% in the fourth quarter. Glenview Trust Co now owns 2,928 shares of the company’s stock worth $253,000 after purchasing an additional 104 shares during the last quarter. Mission Wealth Management LP grew its holdings in Diageo by 4.0% during the fourth quarter. Mission Wealth Management LP now owns 2,992 shares of the company’s stock worth $258,000 after buying an additional 114 shares in the last quarter. Intrust Bank NA lifted its stake in Diageo by 4.4% during the 4th quarter. Intrust Bank NA now owns 3,270 shares of the company’s stock valued at $282,000 after acquiring an additional 138 shares in the last quarter. Elevation Point Wealth Partners LLC raised its holdings in shares of Diageo by 5.3% in the fourth quarter. Elevation Point Wealth Partners LLC now owns 2,792 shares of the company’s stock valued at $241,000 after purchasing an additional 141 shares during the last quarter. Finally, Autumn Glory Partners LLC lifted its position in shares of Diageo by 1.5% during the fourth quarter. Autumn Glory Partners LLC now owns 9,908 shares of the company’s stock valued at $855,000 after purchasing an additional 143 shares in the last quarter. 8.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. TD Cowen raised shares of Diageo from a “hold” rating to a “buy” rating and upped their price objective for the stock from $88.00 to $93.00 in a research report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft raised Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Loop Capital set a $99.00 price target on Diageo in a research report on Thursday, June 18th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a research report on Friday, July 17th. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $106.25.

Diageo Price Performance

DEO opened at $83.12 on Friday. Diageo plc has a twelve month low of $72.45 and a twelve month high of $116.41. The company’s 50-day moving average price is $82.22 and its two-hundred day moving average price is $83.88. The company has a current ratio of 1.60, a quick ratio of 0.71 and a debt-to-equity ratio of 1.53.

About Diageo

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.