Moran Wealth Management LLC Raises Holdings in Diageo plc $DEO

Moran Wealth Management LLC lifted its position in Diageo plc (NYSE:DEO) by 60.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,339 shares of the company’s stock after purchasing an additional 31,394 shares during the quarter. Moran Wealth Management LLC’s holdings in Diageo were worth $6,205,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Leonteq Securities AG increased its stake in Diageo by 223.5% in the 1st quarter. Leonteq Securities AG now owns 3,300 shares of the company’s stock worth $246,000 after acquiring an additional 2,280 shares during the last quarter. Elevation Point Wealth Partners LLC boosted its position in shares of Diageo by 246.6% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 9,678 shares of the company’s stock valued at $720,000 after acquiring an additional 6,886 shares during the last quarter. Mitchell & Pahl Private Wealth LLC boosted its position in shares of Diageo by 17.8% during the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 8,111 shares of the company’s stock valued at $604,000 after acquiring an additional 1,223 shares during the last quarter. CHICAGO TRUST Co NA grew its holdings in shares of Diageo by 17.5% in the first quarter. CHICAGO TRUST Co NA now owns 6,460 shares of the company’s stock valued at $481,000 after purchasing an additional 964 shares in the last quarter. Finally, Rexford Capital Inc. grew its holdings in shares of Diageo by 110.8% in the first quarter. Rexford Capital Inc. now owns 5,918 shares of the company’s stock valued at $441,000 after purchasing an additional 3,110 shares in the last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Stock Performance

NYSE DEO opened at $82.28 on Friday. The business’s 50 day moving average price is $81.66 and its 200-day moving average price is $84.35. Diageo plc has a fifty-two week low of $72.45 and a fifty-two week high of $116.41. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.71.

Analyst Upgrades and Downgrades

DEO has been the topic of several research reports. TD Cowen upgraded shares of Diageo from a “hold” rating to a “buy” rating and boosted their price target for the stock from $88.00 to $93.00 in a research report on Thursday, June 25th. Zacks Research upgraded shares of Diageo from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. Argus raised shares of Diageo to a “hold” rating in a research note on Tuesday, March 10th. BNP Paribas Exane upgraded shares of Diageo from an “underperform” rating to a “neutral” rating in a report on Wednesday, March 25th. Finally, Loop Capital set a $99.00 target price on shares of Diageo in a research report on Thursday, June 18th. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to 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.