Diageo Joins the Party With Pricing-Led Growth and Cost Efficiencies, but Shares Fully Priced
Diageo's preliminary results for the financial year ended June 30 were in line with our forecasts and showed that our thesis is playing out, as pricing power, the source of our wide economic moat rating, is returning to the portfolio. The firm made good progress on cost reduction and announced a GBP 1.5 billion share-buyback program for the upcoming fiscal year. We will update our valuation when the audited results are published, but expect any changes to our GBX 2,250 fair value estimate to be ...Diageo is a premium drinks business based in the United Kingdom. Co. is engaged in producing and distributing spirits, beer and wine. Co.'s operations include producing, distilling, brewing, bottling, packaging, distributing, developing and marketing of a range of brands. The brands that it produces and distributes include Smirnoff vodka, Johnnie Walker scotch whisky, Baileys Original Irish Cream liqueur, Captain Morgan rum, J&B scotch whisky, Tanqueray gin and Guinness stout. In addition, Co. also has the distribution rights for the Jose Cuervo tequila brands in North America and other countries.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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