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It's now heading towards the levels I was expecting. Hopefully, it will continue on its upward trajectory. We'll see what happens over the next few weeks. My gut says to add, but since it's already my second largest holding I get nervous about the possibility of it dominating my portfolio, especially if it continues to increase!
Added this morning on news... Diageo expects to grow earnings by Up to 9% for FY2023 to FY2025.
gla
Presumably, if the company keeps buying their own shares regardless of price, the sky’s the limit and management bonuses guaranteed.
****tails on thr up which should boost spirit sales.??
Yes, surprised by the end to today. I expected a drop in duty to be a positive.
I wonder if there are greater worries around the number of cuts, which surely will mean a shortfall that may be harmful to the economy in due course?
The budget looked favourable to Diageo so I expected a pop .. maybe tomorrow
Imo this would be around the 3850 mark right now, had we not had the pandemic. Things look very good long term so I am happy to have this as my second largest holding.
Out of interest, where do you think it should be?
Personally I've been enjoying the ride but concerned that it's over priced for some time. Last year's EPS was 114. Say that improves by 20% which is asking quite a lot that would be 137. At the current price of 3635, that's a PE of over 25, when FTSE100 average is around 15.
Where should it be in your opinion?
No surprise they are doing well, but the SP still has a long way to go to catch up to where it should be.
Nomadicranger I felt the same until 2003, when share prices dropped before the start of the Iraq war. I managed to pick up DGE at £6, which I knew was a bargain at the time. On the other hand, as Warren Buffet pointed out, better to get a good company at a reasonable price than a poor on at a great price (or something like that)
I agree Man of Leisure.
I waited a long time to get into this share, was always a little expensive for me and when it dropped was always too greedy and wanted it to go lower.
The pandemic provided an opportunity, people are always going to have a drink, didn't get at the lowest point but these are now in my long term holdings for the foreseeable future.
On the advice of her Dublin broker in the 1930s my grandmother bought into a number of drink companies. Guinness as it then was, was Dublin's largest employer. With all the mergers her holdings (Distillers among others) ended up in Diageo.
Now that the next generation has passed on, the holding has been largely sold. Sad to see the holding go. It is a great company.
I'm waiting for an opportunity to add a few more to my portfolio for the long term looks like I may have to be patient it's been a nice steady rise on the 3 month chart. I could of done with a little more time in the previous range but nice to a profit on what I have and I will get some more at some point no rush.
ATB
Sold out @3398. Need to start building cash so taking any profits I can scalp over next few weeks. Good company - I will be back.
Glad I bought more of these when the market crashed last year in March. Didn't think people would stop drinking!
Since it broke out of the range it was trading between its doing quite nicely this. Must be decent sales volumes going through....I think the pandemic has been supportive....you don't go to a bar and drink a bottle of liquor ...in your own home ..that's another matter.
More multi-million pound buying after hours.
TheThinker
You might have a different experience if you looked
On your stock as an investment rather that trading . It’s a great company with dozens of household names sold all over the world .we are just coming out of a lockdown which will result in a huge increase in socialising and resulting in increased sales . As long as there’s no boardroom shenanigans this is one for your pension.
See, told y'all will take off today. Story of my trading life. LOL.
Nice 2 mill buy after hours
I've just sold my holding for a nice little profit. Seems to be trading within a distinct channel so I sold at the top of that and I now look for something with a bit more volatility. Having said that it will probably break upwards now. LOL GLA
The reduction in tariffs imposed by the US on the EU specifically on Scotch whiskey should help .. by. how much is anybody’s guess
Thanks @WM2020. I’ll watch for this and top up accordingly. Got 4k invested already. Might throw another 2k in. I feel that this can only do well once leisure reopens and export issues get sorted. What are other’s opinions on this? GLA DYOR
@Thinker, it goes ex-divi tomorrow, may go down to 2900p or below, a good entry point. As usual DYOR, GLA.