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

Diageo plc (NYSE:DEO) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $73.11 and last traded at $72.7720, with a volume of 21868 shares traded. The stock had previously closed at $74.13.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on DEO shares. Sanford C. Bernstein set a $124.00 price objective on Diageo and gave the stock an “outperform” rating in a research note on Monday, December 29th. HSBC cut Diageo from a “buy” rating to a “hold” rating in a report on Monday, March 2nd. UBS Group reissued a “neutral” rating on shares of Diageo in a research report on Wednesday, December 3rd. Argus upgraded Diageo to a “hold” rating in a research report on Tuesday, March 10th. Finally, Royal Bank Of Canada raised shares of Diageo from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Diageo presently has a consensus rating of “Hold” and a consensus price target of $116.50.

Diageo Stock Down 1.0%

The company’s 50 day simple moving average is $89.01 and its 200-day simple moving average is $91.67. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.71.

Diageo Dividend Announcement

The firm also recently declared a dividend, which will be paid on Thursday, June 4th. Investors of record on Friday, April 17th will be paid a dividend of $0.80 per share. This represents a dividend yield of 207.0%. The ex-dividend date of this dividend is Friday, April 17th.

Hedge Funds Weigh In On Diageo

Hedge funds have recently bought and sold shares of the business. Twin Peaks Wealth Advisors LLC purchased a new stake in Diageo in the second quarter worth about $26,000. Arlington Trust Co LLC increased its position in Diageo by 3,885.7% during the 3rd quarter. Arlington Trust Co LLC now owns 279 shares of the company’s stock valued at $27,000 after purchasing an additional 272 shares during the period. New England Capital Financial Advisors LLC bought a new stake in shares of Diageo in the 3rd quarter valued at about $29,000. Spire Wealth Management raised its holdings in shares of Diageo by 123.6% in the 4th quarter. Spire Wealth Management now owns 322 shares of the company’s stock valued at $28,000 after purchasing an additional 178 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its position in shares of Diageo by 8,000.0% in the 4th quarter. Sound Income Strategies LLC now owns 324 shares of the company’s stock worth $29,000 after purchasing an additional 320 shares during the period. Institutional investors own 8.97% of the company’s stock.

Diageo Company Profile

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.