Diageo (NYSE:DEO) Sets New 1-Year Low – Here’s What Happened

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

Analyst Ratings Changes

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

Diageo Stock Down 0.9 %

The firm’s 50 day simple moving average is $112.45 and its 200-day simple moving average is $122.48. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $58.55 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 2.39 and a beta of 0.65.

Diageo Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DEO. Brooklyn Investment Group acquired a new stake in shares of Diageo in the 3rd quarter valued at approximately $25,000. CoreFirst Bank & Trust acquired a new stake in Diageo in the fourth quarter valued at $25,000. Orion Capital Management LLC acquired a new stake in Diageo in the fourth quarter valued at $25,000. Eastern Bank grew its position in shares of Diageo by 107.8% in the 4th quarter. Eastern Bank now owns 241 shares of the company’s stock valued at $31,000 after acquiring an additional 125 shares during the period. Finally, BNP Paribas acquired a new position in shares of Diageo during the 4th quarter worth about $32,000. 8.97% of the stock is currently owned by institutional investors.

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.