Diageo (NYSE:DEO) Sets New 52-Week Low – Here’s What Happened

Diageo plc (NYSE:DEO) reached a new 52-week low on Monday . The stock traded as low as $80.78 and last traded at $81.05, with a volume of 313744 shares. The stock had previously closed at $81.80.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Royal Bank Of Canada upgraded Diageo from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. UBS Group reiterated a “neutral” rating on shares of Diageo in a report on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Diageo in a research report on Friday, November 28th. Zacks Research downgraded shares of Diageo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $116.50.

Diageo Stock Performance

The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.71 and a current ratio of 1.60. The business has a 50-day moving average of $91.26 and a two-hundred day moving average of $94.37.

Institutional Trading of Diageo

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rehmann Capital Advisory Group lifted its position in Diageo by 63.2% in the fourth quarter. Rehmann Capital Advisory Group now owns 3,970 shares of the company’s stock worth $339,000 after purchasing an additional 1,537 shares during the period. MidFirst Bank bought a new stake in Diageo in the 4th quarter valued at $118,000. Virtu Financial LLC raised its stake in shares of Diageo by 90.2% in the 4th quarter. Virtu Financial LLC now owns 46,086 shares of the company’s stock valued at $3,976,000 after buying an additional 21,853 shares in the last quarter. Van Diest Capital LLC acquired a new position in shares of Diageo in the 4th quarter valued at $226,000. Finally, Invesco Ltd. lifted its holdings in shares of Diageo by 46.9% during the 4th quarter. Invesco Ltd. now owns 308,864 shares of the company’s stock worth $26,646,000 after acquiring an additional 98,642 shares during the period. 8.97% of the stock is currently owned by institutional investors.

Diageo Company Profile

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.