DMKC Advisory Services LLC Boosts Stock Position in Diageo plc $DEO

DMKC Advisory Services LLC raised its holdings in Diageo plc (NYSE:DEO) by 10.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,932 shares of the company’s stock after purchasing an additional 1,806 shares during the period. DMKC Advisory Services LLC’s holdings in Diageo were worth $1,953,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its stake in Diageo by 16.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 138,252 shares of the company’s stock valued at $14,488,000 after acquiring an additional 19,327 shares during the last quarter. Philip James Wealth Mangement LLC acquired a new stake in shares of Diageo in the 1st quarter valued at about $1,908,000. Martin Capital Partners LLC lifted its position in shares of Diageo by 225.8% during the second quarter. Martin Capital Partners LLC now owns 32,525 shares of the company’s stock worth $3,280,000 after purchasing an additional 22,542 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in Diageo by 30.1% in the first quarter. Miracle Mile Advisors LLC now owns 40,492 shares of the company’s stock worth $4,243,000 after purchasing an additional 9,366 shares in the last quarter. Finally, Carnegie Investment Counsel increased its holdings in Diageo by 2,331.0% in the first quarter. Carnegie Investment Counsel now owns 41,036 shares of the company’s stock valued at $4,178,000 after buying an additional 39,348 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Analyst Upgrades and Downgrades

DEO has been the topic of a number of research analyst reports. The Goldman Sachs Group raised Diageo from a “sell” rating to a “neutral” rating in a report on Thursday, August 7th. Bank of America dropped their price target on Diageo from $117.00 to $109.00 and set a “buy” rating on the stock in a research report 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $119.00.

Diageo Stock Performance

Shares of DEO stock opened at $96.50 on Thursday. The company has a market cap of $53.69 billion, a P/E ratio of 14.09, a PEG ratio of 3.42 and a beta of 0.58. The business has a 50 day moving average of $105.26 and a two-hundred day moving average 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 quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64.

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 given a dividend of $2.5192 per share. This is a boost from Diageo’s previous semi-annual dividend of $1.62. The ex-dividend date is Friday, October 17th. This represents a yield of 370.0%. Diageo’s payout ratio is presently 46.42%.

About Diageo

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.