Diageo (LON:DGE) Sets New 52-Week High – Here’s Why

Shares of Diageo plc (LON:DGE) hit a new 52-week high during trading on Friday. The stock traded as high as GBX 1,915.50 and last traded at GBX 1,913, with a volume of 48,431,988 shares changing hands. The stock had previously closed at GBX 1,899.50.

Wall Street Analysts Forecast Growth

DGE has been the subject of a number of recent analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a GBX 2,000 target price on shares of Diageo in a research report on Monday, August 24th. Deutsche Bank boosted their price target on shares of Diageo from GBX 1,734 to GBX 1,740 and gave the stock a “hold” rating in a research report on Friday, November 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 2,200 price objective on shares of Diageo in a research note on Thursday, November 5th. Finally, Berenberg Bank reiterated a “buy” rating and set a GBX 2,223 price objective on shares of Diageo in a research report on Friday, November 6th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Diageo presently has an average rating of “Moderate Buy” and a consensus target price of GBX 1,960.50.

Diageo Trading Up 1.2%

The firm’s 50 day simple moving average is GBX 1,700.21 and its two-hundred day simple moving average is GBX 1,606.35. The stock has a market capitalization of £42.75 billion, a P/E ratio of 24.67, a P/E/G ratio of 1.75 and a beta of 0.31. The company has a quick ratio of 0.62, a current ratio of 1.60 and a debt-to-equity ratio of 203.12.

Insider Buying and Selling

In other news, insider John Alexander Manzoni purchased 348 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The shares were acquired at an average cost of GBX 1,887 per share, with a total value of £6,566.76. Over the last three months, insiders bought 1,189 shares of company stock valued at $2,014,569. Insiders own 0.16% of the company’s stock.

Diageo Company Profile

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.