Diageo (LON:DGE) Sets New 12-Month Low – Here’s What Happened

Diageo plc (LON:DGE)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as GBX 2,031 ($26.24) and last traded at GBX 2,032.73 ($26.27), with a volume of 30990139 shares. The stock had previously closed at GBX 2,051.50 ($26.51).

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DGE. UBS Group raised Diageo to a “buy” rating and upped their target price for the company from GBX 2,300 ($29.72) to GBX 2,920 ($37.73) in a report on Thursday, December 12th. JPMorgan Chase & Co. restated a “neutral” rating and issued a GBX 2,500 ($32.30) price objective on shares of Diageo in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group raised Diageo to a “buy” rating and set a GBX 2,800 ($36.18) target price for the company in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Diageo has a consensus rating of “Hold” and an average price target of GBX 2,876.67 ($37.17).

Diageo Trading Down 1.0 %

The business has a fifty day moving average price of GBX 2,231.01. The stock has a market capitalization of £45.11 billion, a P/E ratio of 11.38, a PEG ratio of 1.75 and a beta of 0.36. The company has a debt-to-equity ratio of 234.57, a quick ratio of 0.62 and a current ratio of 1.94.

Diageo Increases Dividend

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

Insider Activity

In related news, insider Nik Jhangiani sold 65,676 shares of Diageo stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of GBX 2,165 ($27.98), for a total value of £1,421,885.40 ($1,837,298.62). Insiders have acquired a total of 19 shares of company stock valued at $43,455 over the last quarter. Company insiders own 0.11% of the company’s stock.

About Diageo

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.