Philip James Wealth Mangement LLC Has $3.34 Million Stock Position in Diageo plc $DEO

Philip James Wealth Mangement LLC raised its stake in Diageo plc (NYSE:DEO) by 81.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,107 shares of the company’s stock after acquiring an additional 14,895 shares during the quarter. Philip James Wealth Mangement LLC’s holdings in Diageo were worth $3,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Precision Wealth Strategies LLC bought a new stake in shares of Diageo during the second quarter valued at approximately $313,000. Marino Stram & Associates LLC bought a new stake in shares of Diageo during the second quarter worth $624,000. Raleigh Capital Management Inc. lifted its stake in shares of Diageo by 5.5% during the second quarter. Raleigh Capital Management Inc. now owns 8,394 shares of the company’s stock valued at $846,000 after acquiring an additional 441 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Diageo by 4.0% in the second quarter. Janney Montgomery Scott LLC now owns 200,074 shares of the company’s stock valued at $20,176,000 after acquiring an additional 7,707 shares during the last quarter. Finally, GC Wealth Management RIA LLC increased its position in Diageo by 39.2% in the second quarter. GC Wealth Management RIA LLC now owns 8,021 shares of the company’s stock worth $809,000 after purchasing an additional 2,257 shares during the period. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Stock Performance

Shares of NYSE:DEO opened at $96.50 on Thursday. The firm’s 50 day simple moving average is $105.26 and its 200 day simple moving average is $106.60. Diageo plc has a fifty-two week low of $93.42 and a fifty-two week high of $139.96. The company has a market capitalization of $53.69 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 3.42 and a beta of 0.58. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.63 and a quick ratio of 0.64.

Diageo Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, October 17th will be given a dividend of $2.5192 per share. This is a positive change from Diageo’s previous semi-annual dividend of $1.62. This represents a dividend yield of 370.0%. The ex-dividend date of this dividend is Friday, October 17th. Diageo’s payout ratio is 46.42%.

Wall Street Analysts Forecast Growth

DEO has been the topic of a number of research reports. The Goldman Sachs Group upgraded shares of Diageo from a “sell” rating to a “neutral” rating in a research report on Thursday, August 7th. Bank of America dropped their price target on shares of Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research note on Friday, September 26th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $119.00.

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.