Axxcess Wealth Management LLC Purchases 198 Shares of Diageo plc $DEO

Axxcess Wealth Management LLC lifted its stake in Diageo plc (NYSE:DEO) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,886 shares of the company’s stock after buying an additional 198 shares during the period. Axxcess Wealth Management LLC’s holdings in Diageo were worth $593,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Moran Wealth Management LLC lifted its stake in shares of Diageo by 6.6% in the second quarter. Moran Wealth Management LLC now owns 42,017 shares of the company’s stock valued at $4,237,000 after buying an additional 2,598 shares during the period. Concord Wealth Partners lifted its stake in shares of Diageo by 90.3% in the second quarter. Concord Wealth Partners now owns 569 shares of the company’s stock valued at $57,000 after buying an additional 270 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Diageo by 8.1% in the second quarter. Sequoia Financial Advisors LLC now owns 2,588 shares of the company’s stock valued at $261,000 after buying an additional 195 shares during the period. Yousif Capital Management LLC lifted its stake in shares of Diageo by 8.4% in the second quarter. Yousif Capital Management LLC now owns 6,808 shares of the company’s stock valued at $687,000 after buying an additional 530 shares during the period. Finally, MGO One Seven LLC lifted its stake in shares of Diageo by 2.3% in the second quarter. MGO One Seven LLC now owns 10,974 shares of the company’s stock valued at $1,107,000 after buying an additional 250 shares during the period. Institutional investors own 8.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on DEO. The Goldman Sachs Group upgraded shares of Diageo from a “sell” rating to a “neutral” rating in a research note on Thursday, August 7th. Bank of America reduced their target price 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 restated a “sell (d)” rating on shares of Diageo in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Diageo has an average rating of “Hold” and a consensus price target of $119.00.

Diageo Stock Down 1.0%

Shares of DEO opened at $97.69 on Friday. The stock has a market cap of $54.38 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 3.59 and a beta of 0.58. 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 plc has a 12 month low of $93.42 and a 12 month high of $139.96. The company has a 50-day moving average price of $103.39 and a two-hundred day moving average price of $105.74.

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. This is a positive change from Diageo’s previous semi-annual dividend of $1.62. This represents a yield of 516.0%. The ex-dividend date is Friday, October 17th. Diageo’s dividend payout ratio is 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.