Published on 20 Aug 2024 on Insider Monkey · via Yahoo Finance
Diageo plc (DEO): Is This Spirits Stock a Good Buy According to Hedge Funds?
We recently compiled a list of the Beer Loses Fizz as Spirits Gain Popularity: Top 10 Stocks to Buy. In this article, we are going to take a look at where Diageo plc (NYSE:DEO) stands against the other spirits stocks.
With 2024 heading to a close, the alcoholic beverages industry is also changing. Data from the Distilled Spirits Council (DSC) shows that spirits continue to gain over beer, which has traditionally been the go-to alcoholic beverage of choice. In 2023, spirits held more than 42% of the total market to mark a 13 percentage point gain since 2000. These shifts are coming at a time when Americans' attitudes relating to alcohol are significantly changing. For instance, a very detailed survey from Gallup asked participants a plethora of questions surrounding their drinking habits and their perceptions of alcohol's role in society.