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

NewEdge Wealth LLC lifted its position in shares of Diageo plc (NYSE:DEO) by 45.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,744 shares of the company’s stock after buying an additional 9,350 shares during the quarter. NewEdge Wealth LLC’s holdings in Diageo were worth $2,214,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of DEO. Spire Wealth Management raised its position in shares of Diageo by 123.6% in the 4th quarter. Spire Wealth Management now owns 322 shares of the company’s stock worth $28,000 after acquiring an additional 178 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of Diageo by 8,000.0% during the 4th quarter. Sound Income Strategies LLC now owns 324 shares of the company’s stock valued at $29,000 after purchasing an additional 320 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Diageo during the 4th quarter valued at about $30,000. Cassaday & Co Wealth Management LLC bought a new stake in Diageo in the first quarter worth approximately $34,000. Finally, Q Fund Management Hong Kong Ltd bought a new stake in Diageo in the fourth quarter worth approximately $43,000. Institutional investors own 8.97% of the company’s stock.

Diageo Trading Up 1.0%

Shares of Diageo stock opened at $83.12 on Friday. Diageo plc has a 52 week low of $72.45 and a 52 week high of $116.41. The stock has a 50 day moving average price of $82.22 and a two-hundred day moving average price of $83.88. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.71.

Analysts Set New Price Targets

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

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.