Diageo (NYSE:DEO) Reaches New 1-Year Low – Here’s Why

Diageo plc (NYSE:DEO)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $119.36 and last traded at $119.68, with a volume of 59630 shares. The stock had previously closed at $123.89.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on DEO shares. Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. The Goldman Sachs Group lowered Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Finally, Royal Bank of Canada upgraded shares of Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Diageo Trading Down 3.5 %

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 50 day moving average of $133.23 and a 200-day moving average of $132.81.

Institutional Investors Weigh In On Diageo

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can increased its position in shares of Diageo by 1,034.5% during the second quarter. Bank of Montreal Can now owns 799,652 shares of the company’s stock worth $104,443,000 after acquiring an additional 729,166 shares during the period. Natixis Advisors LLC lifted its stake in Diageo by 105.7% in the third quarter. Natixis Advisors LLC now owns 949,411 shares of the company’s stock worth $133,240,000 after acquiring an additional 487,904 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Diageo by 416.0% during the 2nd quarter. Hsbc Holdings PLC now owns 521,920 shares of the company’s stock worth $65,939,000 after acquiring an additional 420,778 shares in the last quarter. Raymond James & Associates increased its position in shares of Diageo by 52.3% in the 3rd quarter. Raymond James & Associates now owns 853,640 shares of the company’s stock valued at $119,800,000 after purchasing an additional 293,017 shares during the last quarter. Finally, Confluence Investment Management LLC raised its holdings in shares of Diageo by 30.5% in the 3rd quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock valued at $170,623,000 after purchasing an additional 284,046 shares in the last quarter. 8.97% of the stock is currently owned by institutional investors and hedge funds.

About Diageo

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.