Diageo (LON:DGE) Hits New 12-Month Low – Here’s What Happened

Diageo plc (LON:DGE) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as GBX 1,420 and last traded at GBX 1,427.50, with a volume of 61708848 shares trading hands. The stock had previously closed at GBX 1,451.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DGE. Jefferies Financial Group cut their price target on Diageo from GBX 2,300 to GBX 2,000 and set a “buy” rating for the company in a research note on Thursday, January 15th. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 2,000 price objective on shares of Diageo in a research note on Wednesday, March 4th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Diageo from GBX 1,840 to GBX 1,790 and set a “hold” rating on the stock in a report on Friday, November 28th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Diageo in a research report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 2,111.25.

Diageo Price Performance

The firm has a market capitalization of £30.88 billion, a PE ratio of 12.84, a P/E/G ratio of 1.75 and a beta of 0.17. The company has a debt-to-equity ratio of 208.59, a current ratio of 1.60 and a quick ratio of 0.62. The business’s 50 day moving average is GBX 1,656.72 and its two-hundred day moving average is GBX 1,724.27.

Insider Activity at Diageo

In other news, insider Nik Jhangiani sold 27,786 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of GBX 1,500, for a total transaction of £416,790. Also, insider John Alexander Manzoni bought 432 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was purchased at an average price of GBX 1,518 per share, for a total transaction of £6,557.76. Over the last 90 days, insiders have purchased 1,222 shares of company stock worth $2,013,061. 0.16% of the stock is owned by corporate insiders.

About Diageo

Diageo is a global leader in premium drinks, across spirits and beer, a business built on the principles and foundations laid by the giants of the industry.

With over 200 brands sold in 180 countries, our portfolio has remarkable breadth. From centuries-old names to exciting new entrants, and global giants to local legends, we’re building the very best brands out there, and with over 30,000 talented people based in over 135 countries, we’re a truly global company. With such diversity, we’re able to truly represent our broad consumer base and think differently about the future.

To maintain our position as leaders in the alcoholic beverage market, we always invest in the future and are mindful of the impact we have.