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

Diageo plc (NYSE:DEO) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $105.22 and last traded at $105.38, with a volume of 597813 shares traded. The stock had previously closed at $106.19.

Wall Street Analyst Weigh In

DEO has been the topic of a number of research analyst reports. Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Finally, TD Cowen boosted their target price on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Diageo presently has an average rating of “Hold” and a consensus price target of $129.00.

Diageo Trading Down 0.5 %

The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The company has a market cap of $58.63 billion, a P/E ratio of 15.39, a P/E/G ratio of 2.39 and a beta of 0.65. The business has a 50-day moving average price of $112.06 and a two-hundred day moving average price of $122.22.

Diageo Dividend Announcement

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Friday, February 28th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a yield of 3.8%. Diageo’s dividend payout ratio is currently 46.42%.

Institutional Trading of Diageo

A number of institutional investors have recently bought and sold shares of the business. Citigroup Inc. grew its stake in shares of Diageo by 4.4% during the third quarter. Citigroup Inc. now owns 158,428 shares of the company’s stock worth $22,234,000 after purchasing an additional 6,617 shares during the period. Canoe Financial LP grew its position in shares of Diageo by 88,407.3% during the 4th quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock worth $1,031,465,000 after buying an additional 8,104,301 shares during the period. BNP Paribas Financial Markets grew its position in shares of Diageo by 32.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 65,894 shares of the company’s stock worth $9,248,000 after buying an additional 16,285 shares during the period. FMR LLC raised its position in shares of Diageo by 9.1% in the 3rd quarter. FMR LLC now owns 5,242,065 shares of the company’s stock valued at $735,671,000 after acquiring an additional 437,646 shares during the period. Finally, Maia Wealth LLC boosted its stake in Diageo by 24.7% during the 4th quarter. Maia Wealth LLC now owns 13,112 shares of the company’s stock worth $1,648,000 after acquiring an additional 2,593 shares during the last quarter. Institutional investors and hedge funds 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.