Diageo (NYSE:DEO) Hits New 12-Month Low – What’s Next?

Diageo plc (NYSE:DEO)’s stock price reached 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 trading hands. The stock had previously closed at $110.49.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. TD Cowen raised their target price on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Diageo presently has a consensus rating of “Hold” and an average target price of $129.00.

Diageo Stock Performance

The business’s fifty day simple moving average is $121.91 and its 200-day simple moving average is $126.42. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.55.

Hedge Funds Weigh In On Diageo

A number of hedge funds have recently bought and sold shares of the business. Canoe Financial LP increased its stake in shares of Diageo by 88,407.3% in the 4th quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock worth $1,031,465,000 after purchasing an additional 8,104,301 shares in the last quarter. FMR LLC raised its holdings 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 acquiring an additional 437,646 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Diageo by 13.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,254,393 shares of the company’s stock valued at $176,042,000 after buying an additional 147,920 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Diageo by 9.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,220,534 shares of the company’s stock worth $155,167,000 after acquiring an additional 103,540 shares during the last quarter. Finally, Confluence Investment Management LLC raised its stake in shares of Diageo by 30.5% in the third quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock valued at $170,623,000 after acquiring an additional 284,046 shares during the period. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Company Profile

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.