Brookmont Capital Management Sells 136 Shares of Diageo plc $DEO

Brookmont Capital Management reduced its position in shares of Diageo plc (NYSE:DEO) by 1.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,784 shares of the company’s stock after selling 136 shares during the quarter. Brookmont Capital Management’s holdings in Diageo were worth $987,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Philip James Wealth Mangement LLC raised its holdings in Diageo by 81.8% during the 2nd quarter. Philip James Wealth Mangement LLC now owns 33,107 shares of the company’s stock worth $3,338,000 after purchasing an additional 14,895 shares during the last quarter. Precision Wealth Strategies LLC acquired a new position in shares of Diageo during the 2nd quarter worth about $313,000. Marino Stram & Associates LLC acquired a new position in shares of Diageo during the 2nd quarter worth about $624,000. Raleigh Capital Management Inc. grew its position in shares of Diageo by 5.5% during the 2nd quarter. Raleigh Capital Management Inc. now owns 8,394 shares of the company’s stock worth $846,000 after buying an additional 441 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in shares of Diageo by 4.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 200,074 shares of the company’s stock worth $20,176,000 after buying an additional 7,707 shares during the period. 8.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DEO shares. Bank of America decreased their target price on Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research report on Friday, September 26th. The Goldman Sachs Group upgraded Diageo from a “sell” rating to a “neutral” rating in a research report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $119.00.

Diageo Price Performance

Shares of DEO opened at $96.50 on Thursday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. The stock has a 50 day simple moving average of $105.26 and a 200 day simple moving average of $106.60. Diageo plc has a 52-week low of $93.42 and a 52-week high of $139.96. The firm has a market capitalization of $53.69 billion, a PE ratio of 14.09, a P/E/G ratio of 3.42 and a beta of 0.58.

Diageo Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, October 17th will be paid a $2.5192 dividend. This represents a yield of 370.0%. The ex-dividend date is Friday, October 17th. This is a positive change from Diageo’s previous semi-annual dividend of $1.62. Diageo’s dividend payout ratio (DPR) is presently 46.42%.

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.