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

Diageo plc (NYSE:DEO) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $117.72 and last traded at $117.86, with a volume of 491001 shares changing hands. The stock had previously closed at $119.45.

Analysts Set New Price Targets

Several analysts recently commented on DEO shares. Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Royal Bank of Canada upgraded Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Diageo has an average rating of “Hold”.

Diageo Price Performance

The business has a 50 day simple moving average of $130.48 and a 200-day simple moving average of $131.17. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53.

Hedge Funds Weigh In On Diageo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DEO. Bank of Montreal Can boosted its stake in shares of Diageo by 1,034.5% during the 2nd quarter. Bank of Montreal Can now owns 799,652 shares of the company’s stock worth $104,443,000 after acquiring an additional 729,166 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of Diageo by 105.7% during the 3rd quarter. Natixis Advisors LLC now owns 949,411 shares of the company’s stock worth $133,240,000 after acquiring an additional 487,904 shares in the last quarter. FMR LLC boosted 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 acquiring an additional 437,646 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Diageo by 416.0% during the 2nd quarter. Hsbc Holdings PLC now owns 521,920 shares of the company’s stock worth $65,939,000 after acquiring an additional 420,778 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Diageo by 52.3% during the 3rd quarter. Raymond James & Associates now owns 853,640 shares of the company’s stock worth $119,800,000 after acquiring an additional 293,017 shares in the last quarter. 8.97% of the stock is owned by institutional investors.

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.