Diageo (LON:DGE) Sets New 52-Week Low – Here’s Why

Diageo plc (LON:DGE)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as GBX 2,046 ($26.53) and last traded at GBX 2,047.50 ($26.55), with a volume of 51615719 shares traded. The stock had previously closed at GBX 2,080 ($26.97).

Analyst Upgrades and Downgrades

DGE has been the topic of several recent analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating and set a GBX 2,500 ($32.42) price objective on shares of Diageo in a report on Tuesday, January 7th. Jefferies Financial Group raised shares of Diageo to a “buy” rating and set a GBX 2,800 ($36.31) price target on the stock in a research note on Friday, December 6th. Finally, UBS Group raised shares of Diageo to a “buy” rating and increased their price objective for the stock from GBX 2,300 ($29.82) to GBX 2,920 ($37.86) in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of GBX 2,876.67 ($37.30).

Diageo Stock Up 0.0 %

The firm’s 50 day moving average price is GBX 2,246.04 and its two-hundred day moving average price is GBX 2,403.10. The company has a current ratio of 1.94, a quick ratio of 0.62 and a debt-to-equity ratio of 234.57. The company has a market capitalization of £46.12 billion, a P/E ratio of 11.64, a PEG ratio of 1.75 and a beta of 0.36.

Diageo Increases Dividend

The firm also recently declared a dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 20th will be paid a GBX 20.75 ($0.27) dividend. This is a positive change from Diageo’s previous dividend of $0.63. This represents a yield of 3.66%. The ex-dividend date is Thursday, March 20th. Diageo’s payout ratio is presently 44.25%.

Insiders Place Their Bets

In other Diageo news, insider Nik Jhangiani sold 65,676 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of GBX 2,165 ($28.07), for a total value of £1,421,885.40 ($1,843,731.07). Insiders have acquired 19 shares of company stock valued at $43,455 in the last three months. 0.11% of the stock is currently owned by corporate insiders.

Diageo Company Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.