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

Shares of Diageo plc (NYSE:DEO) hit a new 52-week low during trading on Tuesday . The company traded as low as $108.19 and last traded at $108.36, with a volume of 1166166 shares traded. The stock had previously closed at $110.49.

Analysts Set New Price Targets

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

Diageo Price Performance

The firm has a 50 day moving average price of $121.91 and a 200-day moving average price of $126.42. The company has a quick ratio of 0.55, a current ratio of 1.60 and a debt-to-equity ratio of 1.62.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DEO. Citigroup Inc. lifted its holdings in shares of Diageo by 4.4% in the 3rd quarter. Citigroup Inc. now owns 158,428 shares of the company’s stock valued at $22,234,000 after buying an additional 6,617 shares during the period. Canoe Financial LP lifted its holdings in Diageo by 88,407.3% in the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock valued at $1,031,465,000 after acquiring an additional 8,104,301 shares during the period. BNP Paribas Financial Markets boosted its position in Diageo by 32.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 65,894 shares of the company’s stock worth $9,248,000 after purchasing an additional 16,285 shares in the last quarter. FMR LLC grew 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 purchasing an additional 437,646 shares during the period. Finally, Tevis Investment Management increased its holdings in shares of Diageo by 159.7% during the 4th quarter. Tevis Investment Management now owns 13,869 shares of the company’s stock valued at $1,763,000 after purchasing an additional 8,528 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.