Salvus Wealth Management LLC Increases Stock Holdings in Diageo plc (NYSE:DEO)

Salvus Wealth Management LLC lifted its position in shares of Diageo plc (NYSE:DEO) by 86.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,076 shares of the company’s stock after purchasing an additional 3,275 shares during the period. Salvus Wealth Management LLC’s holdings in Diageo were worth $900,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DEO. Brooklyn Investment Group bought a new position in Diageo during the 3rd quarter valued at $25,000. Eastern Bank increased its stake in Diageo by 107.8% during the fourth quarter. Eastern Bank now owns 241 shares of the company’s stock valued at $31,000 after purchasing an additional 125 shares during the last quarter. Concord Wealth Partners bought a new position in shares of Diageo in the 3rd quarter worth about $38,000. Modus Advisors LLC bought a new stake in shares of Diageo in the 4th quarter worth approximately $35,000. Finally, Bruce G. Allen Investments LLC increased its holdings in shares of Diageo by 1,395.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock worth $42,000 after acquiring an additional 279 shares during the period. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Trading Up 1.1 %

Shares of DEO stock opened at $117.21 on Friday. The stock’s fifty day simple moving average is $122.70 and its 200-day simple moving average is $128.01. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. Diageo plc has a 1-year low of $113.99 and a 1-year high of $154.71.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Finally, TD Cowen lifted their price objective on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned 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 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.