BCGM Wealth Management LLC Raises Stock Holdings in Diageo plc $DEO

BCGM Wealth Management LLC raised its position in shares of Diageo plc (NYSE:DEO) by 34.1% in the second quarter, Holdings Channel.com reports. The fund owned 17,360 shares of the company’s stock after acquiring an additional 4,410 shares during the quarter. BCGM Wealth Management LLC’s holdings in Diageo were worth $1,751,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Venturi Wealth Management LLC raised its holdings in shares of Diageo by 3.6% during the first quarter. Venturi Wealth Management LLC now owns 2,582 shares of the company’s stock valued at $271,000 after acquiring an additional 89 shares during the last quarter. SageView Advisory Group LLC raised its holdings in shares of Diageo by 1.7% during the first quarter. SageView Advisory Group LLC now owns 5,450 shares of the company’s stock valued at $571,000 after acquiring an additional 89 shares during the last quarter. Pinnacle West Asset Management Inc. raised its holdings in shares of Diageo by 3.2% during the first quarter. Pinnacle West Asset Management Inc. now owns 3,240 shares of the company’s stock valued at $340,000 after acquiring an additional 100 shares during the last quarter. Aaron Wealth Advisors LLC raised its holdings in shares of Diageo by 2.9% during the second quarter. Aaron Wealth Advisors LLC now owns 3,541 shares of the company’s stock valued at $357,000 after acquiring an additional 101 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its holdings in shares of Diageo by 2.1% during the first quarter. Kestra Private Wealth Services LLC now owns 5,345 shares of the company’s stock valued at $560,000 after acquiring an additional 110 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DEO shares. Bank of America cut their price target on Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a report on Friday, September 26th. The Goldman Sachs Group raised Diageo from a “sell” rating to a “neutral” rating in a report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $119.00.

Diageo Stock Up 1.2%

DEO opened at $92.13 on Monday. Diageo plc has a 52 week low of $90.50 and a 52 week high of $132.34. The business has a fifty day simple moving average of $99.90 and a 200-day simple moving average of $104.94. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63.

Diageo Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, October 17th will be given a dividend of $2.5192 per share. This is an increase from Diageo’s previous semi-annual dividend of $1.62. This represents a dividend yield of 516.0%. The ex-dividend date is Friday, October 17th.

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.