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 company traded as low as $115.87 and last traded at $115.87, with a volume of 17997 shares traded. The stock had previously closed at $118.23.

Analyst Upgrades and Downgrades

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

Diageo Stock Performance

The firm has a market capitalization of $63.69 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 3.73 and a beta of 0.67. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55. The firm has a 50 day moving average price of $122.77 and a 200-day moving average price of $128.09.

Institutional Trading of Diageo

Hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group acquired a new stake in shares of Diageo in the third quarter valued at $25,000. Eastern Bank raised its stake in shares of Diageo by 107.8% in the fourth quarter. Eastern Bank now owns 241 shares of the company’s stock valued at $31,000 after acquiring an additional 125 shares in the last quarter. Concord Wealth Partners purchased a new position in Diageo in the third quarter valued at $38,000. Modus Advisors LLC purchased a new position in Diageo in the fourth quarter valued at $35,000. Finally, Bruce G. Allen Investments LLC increased its holdings in Diageo by 1,395.0% in the third quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock valued at $42,000 after buying an additional 279 shares during 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.