Merit Financial Group LLC Purchases 701 Shares of Diageo plc (NYSE:DEO)

Merit Financial Group LLC raised its position in Diageo plc (NYSE:DEO) by 42.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,341 shares of the company’s stock after purchasing an additional 701 shares during the quarter. Merit Financial Group LLC’s holdings in Diageo were worth $341,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Planned Solutions Inc. bought a new stake in Diageo during the fourth quarter valued at $27,000. Addison Advisors LLC increased its holdings in Diageo by 97.3% in the fourth quarter. Addison Advisors LLC now owns 217 shares of the company’s stock worth $32,000 after purchasing an additional 107 shares in the last quarter. Criterion Capital Advisors LLC acquired a new position in Diageo in the fourth quarter valued at approximately $36,000. First Command Advisory Services Inc. bought a new position in shares of Diageo during the 3rd quarter worth approximately $48,000. Finally, Carmel Capital Partners LLC acquired a new stake in shares of Diageo during the 3rd quarter worth approximately $49,000. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Stock Performance

DEO stock opened at $140.96 on Thursday. The stock’s 50 day moving average is $144.39 and its 200-day moving average is $145.31. Diageo plc has a twelve month low of $135.63 and a twelve month high of $186.37. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.65 and a current ratio of 1.58.

Wall Street Analysts Forecast Growth

Separately, BNP Paribas cut Diageo from a “neutral” rating to an “underperform” rating in a report on Friday, January 12th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $3,797.50.

Diageo Company Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.