Sowell Financial Services LLC Takes $262,000 Position in Diageo plc (NYSE:DEO)

Sowell Financial Services LLC acquired a new position in Diageo plc (NYSE:DEO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,498 shares of the company's stock, valued at approximately $262,000.

Several other institutional investors have also recently made changes to their positions in DEO. GeoWealth Management LLC boosted its holdings in Diageo by 1.3% in the fourth quarter. GeoWealth Management LLC now owns 6,944 shares of the company's stock valued at $883,000 after purchasing an additional 92 shares during the last quarter. Aptus Capital Advisors LLC lifted its holdings in shares of Diageo by 5.4% in the 4th quarter. Aptus Capital Advisors LLC now owns 1,867 shares of the company's stock valued at $237,000 after buying an additional 95 shares during the period. Malaga Cove Capital LLC boosted its stake in shares of Diageo by 3.3% in the fourth quarter. Malaga Cove Capital LLC now owns 3,101 shares of the company's stock worth $394,000 after buying an additional 100 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Diageo by 2.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,735 shares of the company's stock worth $475,000 after acquiring an additional 103 shares during the period. Finally, Lake Street Advisors Group LLC raised its position in Diageo by 1.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 6,594 shares of the company's stock valued at $838,000 after acquiring an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 8.97% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Morgan Stanley restated an "underweight" rating on shares of Diageo in a research report on Monday, May 12th. Berenberg Bank initiated coverage on shares of Diageo in a research report on Wednesday, April 2nd. They set a "buy" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised shares of Diageo from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $129.00.

Diageo Stock Performance

Shares of NYSE:DEO traded down $1.31 during midday trading on Wednesday, reaching $99.89. 992,620 shares of the company's stock traded hands, compared to its average volume of 965,339. The company has a fifty day simple moving average of $109.53 and a two-hundred day simple moving average of $113.01. Diageo plc has a 1 year low of $99.26 and a 1 year 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.

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.