Marcum Wealth LLC Takes Position in Diageo plc (NYSE:DEO)

Marcum Wealth LLC purchased a new position in shares of Diageo plc (NYSE:DEO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,377 shares of the company's stock, valued at approximately $249,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DEO. FMR LLC raised its holdings in shares of Diageo by 10.9% in the 4th quarter. FMR LLC now owns 5,813,938 shares of the company's stock valued at $739,126,000 after purchasing an additional 571,873 shares during the period. Kovitz Investment Group Partners LLC raised its holdings in Diageo by 234.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company's stock valued at $330,627,000 after acquiring an additional 1,822,994 shares during the period. Royal Bank of Canada raised its holdings in Diageo by 0.3% in the 4th quarter. Royal Bank of Canada now owns 1,540,800 shares of the company's stock valued at $195,883,000 after acquiring an additional 3,876 shares during the period. Bank of Montreal Can grew its position in shares of Diageo by 1,181.5% during the 4th quarter. Bank of Montreal Can now owns 1,406,004 shares of the company's stock worth $178,745,000 after purchasing an additional 1,296,285 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Diageo by 9.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,220,534 shares of the company's stock worth $155,167,000 after purchasing an additional 103,540 shares in the last quarter. 8.97% of the stock is owned by institutional investors.

Diageo Trading Up 2.9%

Shares of NYSE:DEO traded up $3.15 during mid-day trading on Wednesday, reaching $110.74. 476,763 shares of the company's stock were exchanged, compared to its average volume of 945,655. The firm has a market capitalization of $61.61 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 2.39 and a beta of 0.58. The business's fifty day moving average price is $109.98 and its 200-day moving average price is $114.60. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. Diageo plc has a twelve month low of $100.72 and a twelve month high of $142.73.

Analyst Upgrades and Downgrades

DEO has been the topic of a number of recent analyst reports. Morgan Stanley reissued an "underweight" rating on shares of Diageo in a research note on Monday, May 12th. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Berenberg Bank initiated coverage on shares of Diageo in a research note on Wednesday, April 2nd. They issued a "buy" rating on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $129.00.

About Diageo

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.