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

Diageo plc (NYSE:DEO)’s stock price 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 traded. The stock had previously closed at $119.45.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a research note on Thursday, September 12th. Royal Bank of Canada raised Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Diageo Trading Down 1.1 %

The company’s 50-day simple moving average is $131.02 and its 200-day simple moving average is $131.38. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55.

Hedge Funds Weigh In On Diageo

A number of institutional investors have recently bought and sold shares of DEO. Financial Counselors Inc. boosted its stake in Diageo by 3.3% in the 2nd quarter. Financial Counselors Inc. now owns 2,587 shares of the company’s stock worth $326,000 after purchasing an additional 83 shares during the period. PFG Investments LLC grew its holdings in shares of Diageo by 3.4% during the second quarter. PFG Investments LLC now owns 2,516 shares of the company’s stock valued at $317,000 after buying an additional 83 shares in the last quarter. Global Retirement Partners LLC raised its position in Diageo by 1.1% during the third quarter. Global Retirement Partners LLC now owns 8,146 shares of the company’s stock valued at $1,143,000 after buying an additional 85 shares during the period. Gradient Investments LLC lifted its stake in Diageo by 2.8% in the 2nd quarter. Gradient Investments LLC now owns 3,181 shares of the company’s stock worth $401,000 after acquiring an additional 86 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in Diageo by 0.9% during the 1st quarter. Toronto Dominion Bank now owns 9,949 shares of the company’s stock worth $1,480,000 after acquiring an additional 90 shares during the period. Hedge funds and other institutional investors own 8.97% of the company’s stock.

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.