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

Diageo plc (NYSE:DEO)’s share price hit a new 52-week low on Monday . The stock traded as low as $80.78 and last traded at $81.05, with a volume of 313744 shares trading hands. The stock had previously closed at $81.80.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays reissued an “overweight” rating on shares of Diageo in a research report on Thursday, December 11th. UBS Group reiterated a “neutral” rating on shares of Diageo in a research note on Wednesday, December 3rd. Sanford C. Bernstein set a $124.00 target price on Diageo and gave the stock an “outperform” rating in a report on Monday, December 29th. Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a research report on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Diageo in a research note on Friday, November 28th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Diageo currently has a consensus rating of “Hold” and an average price target of $116.50.

Diageo Trading Down 0.8%

The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.71. The stock’s 50-day simple moving average is $91.26 and its 200 day simple moving average is $94.37.

Institutional Investors Weigh In On Diageo

Large investors have recently bought and sold shares of the business. Bank of Montreal Can raised its position in Diageo by 428.7% in the 4th quarter. Bank of Montreal Can now owns 2,173,047 shares of the company’s stock valued at $187,469,000 after purchasing an additional 1,762,027 shares during the last quarter. Morgan Stanley grew its holdings in shares of Diageo by 32.4% during the fourth quarter. Morgan Stanley now owns 1,947,245 shares of the company’s stock worth $167,989,000 after purchasing an additional 476,979 shares during the last quarter. Orbis Allan Gray Ltd grew its holdings in shares of Diageo by 12.4% during the fourth quarter. Orbis Allan Gray Ltd now owns 1,737,346 shares of the company’s stock worth $149,881,000 after purchasing an additional 191,216 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of Diageo by 48.5% in the third quarter. Raymond James Financial Inc. now owns 1,701,878 shares of the company’s stock valued at $162,410,000 after buying an additional 555,509 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Diageo by 72,871.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,568,162 shares of the company’s stock valued at $158,133,000 after buying an additional 1,566,013 shares in the last quarter. 8.97% of the stock is currently owned by institutional investors.

About Diageo

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.