Merit Financial Group LLC Has $526,000 Stake in Diageo plc (NYSE:DEO)

Merit Financial Group LLC increased its holdings in shares of Diageo plc (NYSE:DEO - Free Report) by 151.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,024 shares of the company's stock after purchasing an additional 3,024 shares during the quarter. Merit Financial Group LLC's holdings in Diageo were worth $526,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DEO. Eldred Rock Partners LLC grew its position in Diageo by 33.2% in the first quarter. Eldred Rock Partners LLC now owns 73,077 shares of the company's stock valued at $7,669,000 after acquiring an additional 18,209 shares in the last quarter. NBC Securities Inc. grew its position in Diageo by 109,700.0% in the first quarter. NBC Securities Inc. now owns 1,098 shares of the company's stock valued at $115,000 after acquiring an additional 1,097 shares in the last quarter. Baker Tilly Wealth Management LLC grew its position in Diageo by 35.2% in the first quarter. Baker Tilly Wealth Management LLC now owns 5,053 shares of the company's stock valued at $530,000 after acquiring an additional 1,315 shares in the last quarter. Douglas Lane & Associates LLC grew its position in Diageo by 4.9% in the first quarter. Douglas Lane & Associates LLC now owns 375,279 shares of the company's stock valued at $39,325,000 after acquiring an additional 17,464 shares in the last quarter. Finally, Sanders Morris Harris LLC grew its position in Diageo by 13.3% in the first quarter. Sanders Morris Harris LLC now owns 2,563 shares of the company's stock valued at $269,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 8.97% of the company's stock.

Diageo Price Performance

Diageo stock traded down $2.18 during midday trading on Friday, hitting $105.13. The company's stock had a trading volume of 663,828 shares, compared to its average volume of 952,174. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The stock's 50-day moving average price is $110.27 and its 200-day moving average price is $114.04. Diageo plc has a 12 month low of $100.72 and a 12 month high of $142.73. The company has a market capitalization of $58.49 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 2.39 and a beta of 0.58.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Berenberg Bank assumed coverage on shares of Diageo in a research report on Wednesday, April 2nd. They set a "buy" rating for the company. Morgan Stanley reissued an "underweight" rating on shares of Diageo in a research report on Monday, May 12th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Diageo from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Diageo has a consensus rating of "Hold" and a consensus 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.