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

Diageo plc (NYSE:DEO)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $115.87 and last traded at $115.87, with a volume of 17997 shares trading hands. The stock had previously closed at $118.23.

Wall Street Analyst Weigh In

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

Diageo Stock Performance

The firm has a fifty day simple moving average of $122.77 and a 200-day simple moving average of $128.09. The company has a market cap of $63.69 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 3.73 and a beta of 0.67. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62.

Hedge Funds Weigh In On Diageo

Several hedge funds have recently made changes to their positions in DEO. Rhumbline Advisers boosted its stake in shares of Diageo by 3.1% during the second quarter. Rhumbline Advisers now owns 5,822 shares of the company’s stock worth $734,000 after buying an additional 174 shares during the period. American Century Companies Inc. boosted its stake in shares of Diageo by 24.7% during the second quarter. American Century Companies Inc. now owns 95,699 shares of the company’s stock worth $12,066,000 after buying an additional 18,974 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Diageo during the second quarter worth about $5,071,000. Envestnet Asset Management Inc. boosted its stake in shares of Diageo by 7.1% during the second quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock worth $142,165,000 after buying an additional 74,745 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Diageo by 2.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,106,473 shares of the company’s stock worth $139,504,000 after buying an additional 23,435 shares during the period. Hedge funds and other institutional investors own 8.97% of the company’s stock.

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.