Miracle Mile Advisors LLC Acquires 9,366 Shares of Diageo plc (NYSE:DEO)

Miracle Mile Advisors LLC grew its holdings in shares of Diageo plc (NYSE:DEO - Free Report) by 30.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 40,492 shares of the company's stock after acquiring an additional 9,366 shares during the period. Miracle Mile Advisors LLC's holdings in Diageo were worth $4,243,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in DEO. CoreFirst Bank & Trust purchased a new stake in Diageo in the fourth quarter worth $25,000. Orion Capital Management LLC bought a new stake in shares of Diageo during the 4th quarter valued at about $25,000. Perkins Coie Trust Co bought a new position in shares of Diageo during the first quarter valued at approximately $27,000. BNP Paribas purchased a new position in Diageo in the 4th quarter worth approximately $32,000. Finally, Measured Risk Portfolios Inc. purchased a new stake in Diageo in the fourth quarter worth approximately $32,000. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Price Performance

DEO stock traded up $0.58 during trading on Thursday, hitting $107.25. The company had a trading volume of 733,388 shares, compared to its average volume of 949,440. The business has a 50 day moving average of $110.16 and a 200 day moving average of $114.13. The firm has a market capitalization of $59.67 billion, a price-to-earnings ratio of 15.66, a P/E/G ratio of 2.39 and a beta of 0.58. Diageo plc has a fifty-two week low of $100.72 and a fifty-two week high of $142.73. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley reissued an "underweight" rating on shares of Diageo in a report on Monday, May 12th. Deutsche Bank Aktiengesellschaft upgraded 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 report on Wednesday, April 2nd. They issued a "buy" rating for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price 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.