Sowell Financial Services LLC Purchases Shares of 2,498 Diageo plc (NYSE:DEO)

Sowell Financial Services LLC purchased a new stake in Diageo plc (NYSE:DEO - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,498 shares of the company's stock, valued at approximately $262,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GeoWealth Management LLC increased its stake 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 in the last quarter. Aptus Capital Advisors LLC grew its holdings in shares of Diageo by 5.4% during the fourth 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 last quarter. Malaga Cove Capital LLC grew its holdings in shares of Diageo by 3.3% during the fourth quarter. Malaga Cove Capital LLC now owns 3,101 shares of the company's stock valued at $394,000 after buying an additional 100 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Diageo by 2.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,735 shares of the company's stock valued at $475,000 after buying an additional 103 shares during the last quarter. Finally, Lake Street Advisors Group LLC grew its holdings in shares of 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 buying an additional 109 shares during the last quarter. 8.97% of the stock is owned by institutional investors.

Diageo Trading Down 0.9%

Shares of DEO stock opened at $100.72 on Friday. Diageo plc has a 52-week low of $100.66 and a 52-week high of $142.73. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. The company has a 50-day simple moving average of $109.86 and a two-hundred day simple moving average of $113.33. The company has a market capitalization of $56.03 billion, a price-to-earnings ratio of 14.70 and a beta of 0.58.

Analysts Set New Price Targets

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

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