Diageo (NYSE:DEO) Hits New 52-Week Low – Here’s Why

Diageo plc (NYSE:DEO) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $112.75 and last traded at $112.58, with a volume of 90209 shares. The stock had previously closed at $115.95.

Analyst Ratings Changes

A number of equities analysts recently issued reports on DEO shares. UBS Group raised Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. TD Cowen increased their price target on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $129.00.

Diageo Trading Up 0.3 %

The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. The company has a fifty day moving average of $122.53 and a 200 day moving average of $126.91.

Institutional Investors Weigh In On Diageo

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Canoe Financial LP boosted its holdings in Diageo by 88,407.3% during the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock worth $1,031,465,000 after buying an additional 8,104,301 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Diageo during the 4th quarter valued at $123,892,000. Natixis Advisors LLC lifted its position in shares of Diageo by 105.7% during the 3rd quarter. Natixis Advisors LLC now owns 949,411 shares of the company’s stock valued at $133,240,000 after acquiring an additional 487,904 shares during the last quarter. FMR LLC boosted its stake in shares of Diageo by 9.1% during the 3rd quarter. FMR LLC now owns 5,242,065 shares of the company’s stock worth $735,671,000 after acquiring an additional 437,646 shares in the last quarter. Finally, ABC Arbitrage SA acquired a new position in shares of Diageo in the 4th quarter worth $37,777,000. 8.97% of the stock is currently owned by institutional investors.

Diageo Company Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. The company offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavored malt beverages. It also provides Chinese, Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as flavored malt beverages, ready to drink, and non-alcoholic products.