|Bid||3,230.00 x 0|
|Ask||3,232.50 x 0|
|Day's range||3,217.50 - 3,270.00|
|52-week range||2,513.00 - 3,633.50|
|Beta (3Y monthly)||0.91|
|PE ratio (TTM)||24.77|
|Earnings date||24 Jul 2019 - 29 Jul 2019|
|Forward dividend & yield||0.69 (2.10%)|
|1y target est||2,916.05|
Rupert Hargreaves looks at two FTSE 100 (INDEXFTSE: UKX) stocks Warren Buffett might buy for their fantastic shareholder returns.
Spirits maker Diageo Plc said on Thursday it was "not immune" to changes in global trade policies, but based on the current environment expects to meet its full-year organic sales targets. The Johnnie Walker whisky and Tanqueray gin maker said it continues to expect organic net sales growth to be towards the mid-point of a 4% to 6% range and organic operating profit to grow roughly one percentage point ahead of organic net sales. The company also said it expects first-half organic operating profit growth to be in-line with or slightly behind organic net sales growth, due to stronger prior year comparables.
The FTSE 100 index ended 0.6% higher and the mid-cap FTSE 250 index rose 0.2%, with the financial sector boosting both the indexes. Central banks around the world have been loosening monetary policy to stem a slowdown in economic growth. CMC Markets analyst Michael Hewson said the Fed's signal to hold back on further cuts was probably not priced in.
The Johnnie Walker whisky and Tanqueray gin maker said it continues to expect organic net sales growth to be towards the mid-point of a 4% to 6% range and organic operating profit to grow roughly one percentage point ahead of organic net sales. The company also said it expects first-half organic operating profit growth to be in-line with or slightly behind organic net sales growth, due to stronger prior year comparables. "We would not be immune from significant changes to global trade policy and continue to monitor this closely," Chief Executive Ivan Menezes said in a statement.
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Diageo Plc averted a planned strike on Tuesday at Scottish distilleries after reaching an agreement on worker pay with the GMB and Unite unions, a representative for the company said. The two-year deal includes a 3% pay increase in the first year and then a cost of living increase and a performance-based incentive bonus in the second year, the company said. More than 1,000 workers at Diageo's Scottish distilleries were set to go on strike, starting 2100 GMT on Tuesday.
The two-year deal includes a 3% pay increase in the first year and then a cost of living increase and a performance-based incentive bonus in the second year, the company said. More than 1,000 workers at Diageo's Scottish distilleries were set to go on strike, starting 2100 GMT on Tuesday. "The offer is a two-year commitment on pay and also sets out a time frame for the negotiation of a new collective agreement," GMB Scotland said http://bit.ly/2ZYXsJC.
The latest earnings update Diageo plc (LON:DGE) released in August 2019 suggested that the business gained from a...
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UK stocks ended Friday on a high note as optimism that a no-deal Brexit could be avoided spurred a rally in stocks with domestic exposure, overpowering losses in blue-chip exporter stocks that were hit by a stronger sterling. The FTSE 100 rose 0.3%, with homebuilder Barratt jumping nearly 6% to top the gainers. The country's big banks Lloyds, Royal Bank of Scotland and Barclays added more than 5%.
Unions at Diageo are demanding a 5% pay rise for workers due to go on strike in Scotland later this month and believe the stoppages will cost the drinks company 1 million pounds ($1.2 million) a day, a source familiar with the matter said. A Diageo spokeswoman said that the unions had initially demanded 5% pay hikes when talks started in May, but had since come down to 3.5%. Members of Scotland's Unite and GMB unions, who make up half of Diageo's 3,000 Scottish workforce, are set to go on rolling strikes at the company's Cameronbridge, Leven and Shieldhall sites in Scotland between Sept. 17 and 27, after talks with Diageo collapsed last month.
A Diageo spokeswoman said that the unions had initially demanded 5% pay hikes when talks started in May, but had since come down to 3.5%. Members of Scotland's Unite and GMB unions, who make up half of Diageo's 3,000 Scottish workforce, are set to go on rolling strikes at the company's Cameronbridge, Leven and Shieldhall sites in Scotland between Sept. 17 and 27, after talks with Diageo collapsed last month. The unions on Aug. 30 again rejected Diageo's offer to increase wages by 2.8%, after rejecting a prior offer of 2.5%.
UK blue-chip shares slipped on Tuesday, as a second set of disappointing data from China this week cemented fears of a slowdown in global economic growth, while gains in the pound amid fading no-deal Brexit worries hit multinational stocks. The FTSE 100 index dipped 0.4%, having suffered its worst day this month in the last session, with equipment rental giant Ashtead falling 3% after in-line results. The more domestically-focussed index of midcaps was flat by 0705 GMT, supported by a 22% jump in Galliford Try after the construction company said it had restarted preliminary talks to sell its residential units to housebuilder Bovis Homes.
London's FTSE 100 slipped on Thursday as a surge in sterling pushed exporter stocks lower, missing out on a global rally led by growing hopes of a resolution to the U.S.-China trade dispute. The FTSE 100 slid 0.6%, with multinationals including spirits company Diageo, pharma giants AstraZeneca and GlaxoSmithKline slipping about 3% as a strong pound meant the value of their U.S. earnings was lower. Stocks trading without dividend entitlement on the day such as BHP, Glencore and Micro Focus fell between 1.2%-3%, weighing heavily on the blue-chip index.
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The union said in August that 500 workers at Diageo's Cameron Bridge, Leven and Shieldhall sites had voted in support of industrial action, with strikes at the company's distilling and bottling plants likely to begin in September and go on till November. Unite said that strikes would take place between Sept. 18 to 19 and between Sept. 26 to 27 at Diageo's Cameron Bridge and between Sept. 19 to 20 and between Sept. 26 to 27 at the Leven plant. "Unite warned weeks ago that unless Diageo made a fair offer then our membership would take strike action", Unite regional industrial officer Bob MacGregor said adding that "The door always remains open to further negotiations but strike action is now imminent".
London's FTSE 100 surged 1% on Monday, shrugging off news of the latest U.S.-China trade tariffs, as exporter stocks firmed following a slide in sterling on the prospect of an election against the backdrop of Brexit. The main index hit its highest in nearly a month, partly boosted by AstraZeneca, which rose 3% to an all-time high after separate trials showed its drugs helped patients with cardiovascular conditions. The mid-cap FTSE 250 rose 0.5%, though trading volumes on both UK indexes were thin due to a U.S. market holiday.
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Gains in mining companies after nickel prices hit an all-time high and signs of a resumption of U.S.-China trade talks lifted London's FTSE 100 on Friday, as the index snapped a four-week losing streak. The main index added 0.3%, but still posted its sharpest monthly fall since October in a month ravaged by escalating trade disputes and fears of a recession. The mid-cap FTSE 250 gained 0.5%.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Pernod Ricard SA reported its strongest annual earnings growth in seven years, fueled by Chinese demand, and announced a 1 billion-euro ($1.1 billion) share buyback.After sales in China surged 21%, the company is doubling down in that market by building a $150 million distillery in Sichuan province to produce single malt whisky. The company also announced the $223 million purchase of New York-based Castle Brands to add Jefferson’s bourbon to its portfolio.The positive results add steam to a distilling industry that’s been an outperformer in the wider consumer-goods sector. The revival of cocktail culture has boosted sales of high-end liquor brands such as Pernod Ricard’s Monkey 47 gin and Martell cognac.Profit from recurring operations rose 8.7% to 2.58 billion euros in the year through June, edging out analysts’ estimates. However, the company forecast profit growth may slow slightly this year to a rate of 5% to 7%.The stock rose as much as 4.6% to a record 174.25 euros Thursday.“We suspect management are being prudent, rather than this being a signal of weaker underlying trends,” wrote Trevor Stirling, an analyst at Sanford C. Bernstein. Last year Pernod Ricard started out with the same forecast, then raised it twice.Pernod Ricard is under pressure after activist investor Elliott Management Corp. took a stake in the company late last year. The buyback follows rival Diageo Plc’s plan to return as much as 4.5 billion pounds ($5.5 billion) to shareholders.The French company also raised its dividend so that it’s now paying out 50% of earnings.“Now that we’ve significantly deleveraged our business to the lowest leverage ratio in at least 15 years, it’s the right time to clarify our strategy with shareholders,” Chief Executive Officer Alexandre Ricard said by phone of the buyback plan. He said the payout ratio has been lower over the past decade because of Pernod Ricard’s acquisition strategy.The distillery in the Chinese city of Emeishan will be the first built buy a foreign spirits maker in that country and is scheduled to begin production in 2021. Pernod Ricard hired Neri & Hu, renowned Chinese architects, to build the site, which it intends to promote as a tourist destination.(Updates with analyst comment in sixth paragraph.)To contact the reporter on this story: Thomas Buckley in London at email@example.comTo contact the editors responsible for this story: Eric Pfanner at firstname.lastname@example.org, Thomas Mulier, John LauermanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
French spirits maker Pernod Ricard , which is being targeted by activist investor Elliott, unveiled a share buyback programme and new investments in China and the United States as it posted profit growth that beat forecasts. In the United States - its largest market where it now makes 18% of sales - Pernod further strengthened its bourbon whisky portfolio with the $223 million acquisition of Castle Brands.