Axxcess Wealth Management LLC Has $593,000 Stake in Diageo plc $DEO

Axxcess Wealth Management LLC raised its position in shares of Diageo plc (NYSE:DEO) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of DEO. Abound Financial LLC acquired a new stake in shares of Diageo during the first quarter worth approximately $27,000. TruNorth Capital Management LLC acquired a new stake in shares of Diageo in the first quarter valued at approximately $30,000. Truvestments Capital LLC acquired a new stake in shares of Diageo in the first quarter valued at approximately $30,000. Cheviot Value Management LLC acquired a new stake in shares of Diageo in the first quarter valued at approximately $31,000. Finally, Financial Network Wealth Advisors LLC increased its holdings in shares of Diageo by 63.0% in the first quarter. Financial Network Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $45,000 after purchasing an additional 165 shares in the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Stock Performance

DEO stock opened at $97.69 on Friday. The business’s fifty day moving average is $103.39 and its 200-day moving average is $105.74. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64. The company has a market cap of $54.38 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 3.59 and a beta of 0.58. Diageo plc has a twelve month low of $93.42 and a twelve month high of $139.96.

Diageo Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, October 17th will be paid 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 516.0%. Diageo’s dividend payout ratio (DPR) is currently 46.42%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of Diageo from a “sell” rating to a “neutral” rating in a report on Thursday, August 7th. Bank of America lowered their price target on shares of Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a report on Friday, September 26th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.