Meridian Wealth Advisors LLC increased its holdings in shares of Diageo plc (NYSE:DEO) by 15.8% in the 1st quarter, HoldingsChannel reports. The firm owned 3,338 shares of the company’s stock after acquiring an additional 455 shares during the period. Meridian Wealth Advisors LLC’s holdings in Diageo were worth $546,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in DEO. Bank of New York Mellon Corp raised its stake in shares of Diageo by 661.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 255,087 shares of the company’s stock valued at $36,139,000 after buying an additional 221,590 shares in the last quarter. CX Institutional acquired a new position in shares of Diageo in the 4th quarter valued at $105,000. Steward Partners Investment Advisory LLC raised its stake in shares of Diageo by 9.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,939 shares of the company’s stock valued at $842,000 after buying an additional 533 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Diageo in the 4th quarter valued at $432,000. Finally, Legacy Financial Advisors Inc. increased its position in shares of Diageo by 31.9% during the 4th quarter. Legacy Financial Advisors Inc. now owns 513 shares of the company’s stock worth $73,000 after purchasing an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 10.55% of the company’s stock.
DEO has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Diageo from a “sell” rating to a “hold” rating in a research report on Friday, January 18th. Liberum Capital upgraded shares of Diageo from a “sell” rating to a “hold” rating in a research report on Thursday, January 31st. Investec cut shares of Diageo from a “hold” rating to a “sell” rating in a research report on Monday, March 25th. Finally, Barclays initiated coverage on shares of Diageo in a research report on Monday, April 1st. They set an “overweight” rating for the company. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $164.75.
Shares of Diageo stock traded down $0.40 during mid-day trading on Friday, reaching $170.40. 1,449 shares of the stock were exchanged, compared to its average volume of 272,399. The stock has a market capitalization of $103.63 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 2.99 and a beta of 0.54. The company has a quick ratio of 0.73, a current ratio of 1.48 and a debt-to-equity ratio of 0.94. Diageo plc has a fifty-two week low of $131.43 and a fifty-two week high of $171.58.
Diageo Company Profile
Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages worldwide. The company offers a collection of brands across spirits, beer, cider, and wine categories. Its brands include Johnnie Walker, Crown Royal, J&B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Bundaberg, McDowell's No.
Further Reading: Gap Up Stocks
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