Merit Financial Group LLC Buys 116 Shares of Diageo plc (NYSE:DEO)

Merit Financial Group LLC grew its stake in shares of Diageo plc (NYSE:DEO) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,000 shares of the company’s stock after buying an additional 116 shares during the period. Merit Financial Group LLC’s holdings in Diageo were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Diageo by 9.1% during the 3rd quarter. FMR LLC now owns 5,242,065 shares of the company’s stock worth $735,671,000 after acquiring an additional 437,646 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Diageo by 13.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,254,393 shares of the company’s stock worth $176,042,000 after purchasing an additional 147,920 shares in the last quarter. Confluence Investment Management LLC boosted its position in shares of Diageo by 30.5% during the third quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock worth $170,623,000 after purchasing an additional 284,046 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Diageo by 25.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,116,994 shares of the company’s stock valued at $156,759,000 after buying an additional 229,946 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Diageo by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 991,459 shares of the company’s stock valued at $139,141,000 after buying an additional 64,367 shares in the last quarter. Institutional investors own 8.97% of the company’s stock.

Diageo Stock Performance

DEO stock opened at $124.53 on Friday. The stock has a 50-day moving average price of $122.62 and a two-hundred day moving average price of $127.60. Diageo plc has a 1 year low of $113.99 and a 1 year high of $154.71. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62.

Analyst Ratings Changes

Several research firms have weighed in on DEO. Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Finally, TD Cowen increased their target price on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $129.00.

Diageo 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.