Gibbs Wealth Management Takes $537,000 Position in Diageo plc $DEO

Gibbs Wealth Management purchased a new position in Diageo plc (NYSE:DEO) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,216 shares of the company’s stock, valued at approximately $537,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Spire Wealth Management grew its position in shares of Diageo by 123.6% in the fourth quarter. Spire Wealth Management now owns 322 shares of the company’s stock valued at $28,000 after purchasing an additional 178 shares in the last quarter. Sound Income Strategies LLC grew its holdings in Diageo by 8,000.0% in the 4th quarter. Sound Income Strategies LLC now owns 324 shares of the company’s stock valued at $29,000 after buying an additional 320 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Diageo during the 4th quarter valued at about $30,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Diageo in the first quarter valued at about $34,000. Finally, Q Fund Management Hong Kong Ltd purchased a new stake in shares of Diageo in the fourth quarter valued at about $43,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Trading Up 1.0%

Shares of DEO opened at $83.12 on Friday. The company’s 50-day simple moving average is $82.22 and its 200-day simple moving average is $83.88. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.71. Diageo plc has a 1 year low of $72.45 and a 1 year high of $116.41.

Wall Street Analyst Weigh In

A number of brokerages have commented on DEO. TD Cowen raised shares of Diageo from a “hold” rating to a “buy” rating and lifted their target price for the stock from $88.00 to $93.00 in a research note on Thursday, June 25th. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a report on Friday, July 17th. Finally, Loop Capital set a $99.00 target price on Diageo in a research report on Thursday, June 18th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $106.25.

About Diageo

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.