Philip James Wealth Mangement LLC Acquires 14,895 Shares of Diageo plc $DEO

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

Several other institutional investors also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its holdings in shares of Diageo by 1,544.5% during the 1st quarter. BNP Paribas Financial Markets now owns 396,676 shares of the company’s stock worth $41,568,000 after purchasing an additional 372,555 shares during the period. Orbis Allan Gray Ltd acquired a new stake in Diageo during the first quarter worth about $36,050,000. Confluence Investment Management LLC increased its stake in Diageo by 14.0% during the second quarter. Confluence Investment Management LLC now owns 1,350,826 shares of the company’s stock valued at $136,217,000 after acquiring an additional 165,839 shares during the period. Crestwood Advisors Group LLC bought a new stake in shares of Diageo in the 1st quarter worth approximately $16,944,000. Finally, Partners Capital Investment Group LLP acquired a new stake in shares of Diageo during the 1st quarter worth approximately $4,161,000. 8.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. The Goldman Sachs Group upgraded Diageo from a “sell” rating to a “neutral” rating in a research note 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. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $119.00.

Diageo Stock Performance

Diageo stock opened at $96.50 on Thursday. The firm has a market capitalization of $53.69 billion, a P/E ratio of 14.09, a P/E/G ratio of 3.42 and a beta of 0.58. The stock has a fifty day moving average price of $105.26 and a two-hundred day moving average price of $106.60. Diageo plc has a 52-week low of $93.42 and a 52-week high of $139.96. 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. Shareholders of record on Friday, October 17th will be given a $2.5192 dividend. This represents a yield of 370.0%. This is a boost from Diageo’s previous semi-annual dividend of $1.62. The ex-dividend date is Friday, October 17th. 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.