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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Diageo plc    DGE   GB0002374006

DIAGEO PLC

(DGE)
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Real-time Estimate Quote. Real-time Estimate CHI-X - 04/08 11:30:00 am
2520 GBp   -1.91%
04/06DIAGEO : JP Morgan maintains a Sell rating
MD
04/03DIAGEO : JP Morgan remains a Sell rating
MD
03/30DIAGEO : Receives a Buy rating from Goldman Sachs
MD
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News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Diageo : Settles for $5 Million With SEC on Profit-Boosting Charges

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02/19/2020 | 11:17am EDT

By Dave Sebastian

 

Diageo PLC has agreed to pay $5 million to settle charges brought by the Securities and Exchange Commission that it hit performance goals by pressuring distributors to buy products in excess of demand.

The pressure on distributors by the company's employees at Diageo North America, its largest subsidiary, contributed to an uptick in shipments that allowed it to meet performance targets and post higher growth in closely watched indicators amid declining market conditions, the SEC alleges. The London-based alcoholic-beverage company didn't disclose the risk of the inventory increase on future growth, the SEC said.

In addition to the settlement, Diageo agreed to cease and desist from further violations without admitting or denying the SEC's findings.

"Diageo is pleased to have resolved this legacy matter, which relates back to fiscal years 2014 and 2015," the company said. "Diageo regularly reviews and refines its policies and procedures and is committed to maintaining a robust and transparent disclosure process."

The SEC also said the metric-boosting method created a misleading impression that the company was able to achieve growth through regular demand.

"Investors rely on public companies to make complete and accurate disclosures upon which they can base their investment decisions," Melissa Hodgman, an associate director in the SEC's Division of Enforcement, said in prepared remarks.

American depositary shares of Diageo rose about 0.7% to $162.94.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

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Latest news on DIAGEO PLC
04/06DIAGEO : JP Morgan maintains a Sell rating
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Financials (GBP)
Sales 2020 12 649 M
EBIT 2020 3 785 M
Net income 2020 2 764 M
Debt 2020 12 604 M
Yield 2020 2,81%
P/E ratio 2020 20,6x
P/E ratio 2021 18,7x
EV / Sales2020 5,65x
EV / Sales2021 5,40x
Capitalization 58 867 M
Chart DIAGEO PLC
Duration : Period :
Diageo plc Technical Analysis Chart | DGE | GB0002374006 | MarketScreener
Technical analysis trends DIAGEO PLC
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 2 897,67  GBp
Last Close Price 25,22  GBp
Spread / Highest target 13 778%
Spread / Average Target 11 390%
Spread / Lowest Target 7 984%
EPS Revisions
Managers
NameTitle
Ivan M. Menezes Chief Executive Officer & Executive Director
Javier Ferrán Larraz Chairman
Kathryn A. Mikells Chief Financial Officer & Executive Director
Evan Mervyn Davies Non-Executive Director
Kwon Ping Ho Independent Non-Executive Director
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