Precision Wealth Strategies LLC Acquires New Holdings in Diageo plc $DEO

Key Points

• Precision Wealth Strategies LLC acquired a new stake in Diageo plc, purchasing 3,106 shares valued at approximately $313,000 in the second quarter.
• Diageo announced a semi-annual dividend increase to $2.5192, up from $1.62, which will be paid on December 4th, representing a dividend yield of 370.0%.
• Analyst ratings for Diageo show a consensus of "Hold" with a target price of $119.00, as several analysts recently updated their ratings.

Precision Wealth Strategies LLC bought a new stake in shares of Diageo plc (NYSE:DEO - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 3,106 shares of the company's stock, valued at approximately $313,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in Diageo by 1,544.5% during the 1st quarter. BNP Paribas Financial Markets now owns 396,676 shares of the company's stock valued at $41,568,000 after buying an additional 372,555 shares during the last quarter. Orbis Allan Gray Ltd acquired a new stake in shares of Diageo during the first quarter valued at $36,050,000. Confluence Investment Management LLC boosted its stake in shares of 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 last quarter. Crestwood Advisors Group LLC purchased a new stake in Diageo during the 1st quarter worth about $16,944,000. Finally, Partners Capital Investment Group LLP acquired a new position in Diageo in the 1st quarter valued at about $4,161,000. Hedge funds and other institutional investors own 8.97% of the company's stock.

Diageo Price Performance

Diageo stock opened at $96.50 on Thursday. Diageo plc has a 1 year low of $93.42 and a 1 year high of $139.96. 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 firm has a 50 day moving average price of $105.26 and a 200 day moving average price of $106.60. The company has a market cap of $53.69 billion, a price-to-earnings ratio of 14.09, a PEG 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. Investors of record on Friday, October 17th will be given a $2.5192 dividend. This is an increase from Diageo's previous semi-annual dividend of $1.62. The ex-dividend date of this dividend is Friday, October 17th. This represents a dividend yield of 370.0%. Diageo's dividend payout ratio is 46.42%.

Analyst Ratings Changes

Several equities research analysts have issued reports on DEO shares. The Goldman Sachs Group raised shares of Diageo from a "sell" rating to a "neutral" rating in a research note on Thursday, August 7th. Bank of America reduced their price objective on shares of Diageo from $117.00 to $109.00 and set a "buy" rating on the stock 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 given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $119.00.

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.

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