IFP Advisors Inc Grows Stock Holdings in Diageo plc $DEO

IFP Advisors Inc raised its stake in Diageo plc (NYSE:DEO) by 9.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,409 shares of the company’s stock after buying an additional 123 shares during the period. IFP Advisors Inc’s holdings in Diageo were worth $142,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Abound Financial LLC purchased a new position in Diageo in the 1st quarter valued at approximately $27,000. Cheviot Value Management LLC purchased a new position in shares of Diageo in the first quarter valued at $31,000. Truvestments Capital LLC acquired a new position in shares of Diageo during the 1st quarter worth $30,000. TruNorth Capital Management LLC purchased a new stake in shares of Diageo in the 1st quarter worth about $30,000. Finally, Financial Network Wealth Advisors LLC grew its stake in Diageo by 63.0% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $45,000 after acquiring an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DEO. 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 objective 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. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $119.00.

Diageo Stock Performance

NYSE:DEO opened at $97.69 on Friday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.63 and a quick ratio of 0.64. The firm has a market cap of $54.38 billion, a PE ratio of 14.26, a P/E/G ratio of 3.55 and a beta of 0.58. The firm has a 50 day simple moving average of $103.39 and a 200-day simple moving average of $105.74. Diageo plc has a 1-year low of $93.42 and a 1-year high of $139.96.

Diageo Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, October 17th will be paid a dividend of $2.5192 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a dividend yield of 516.0%. This is a boost from Diageo’s previous semi-annual dividend of $1.62. Diageo’s dividend payout ratio is currently 46.42%.

Diageo Company 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.