Diageo (NYSE:DEO) Hits New 12-Month Low – What’s Next?

Shares of Diageo plc (NYSE:DEO) reached a new 52-week low on Wednesday . The stock traded as low as $84.95 and last traded at $84.9020, with a volume of 444865 shares traded. The stock had previously closed at $88.51.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Bank of America cut their price objective on shares of Diageo from $117.00 to $109.00 and set a “buy” rating on the stock in a report on Friday, September 26th. Sanford C. Bernstein set a $124.00 target price on shares of Diageo and gave the company an “outperform” rating in a research report on Monday, December 29th. Zacks Research lowered shares of Diageo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Barclays restated an “overweight” rating on shares of Diageo in a research note on Thursday, December 11th. Finally, Royal Bank Of Canada upgraded Diageo from a “sector perform” rating to an “outperform” rating in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $116.50.

Diageo Stock Up 2.1%

The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. The stock’s 50 day moving average is $89.76 and its two-hundred day moving average is $98.13.

Hedge Funds Weigh In On Diageo

Several institutional investors have recently added to or reduced their stakes in DEO. Twin Peaks Wealth Advisors LLC acquired a new stake in Diageo during the 2nd quarter worth approximately $26,000. Arlington Trust Co LLC raised its stake in shares of Diageo by 3,885.7% during the third quarter. Arlington Trust Co LLC now owns 279 shares of the company’s stock worth $27,000 after purchasing an additional 272 shares during the last quarter. Bell Investment Advisors Inc lifted its holdings in shares of Diageo by 94.7% during the second quarter. Bell Investment Advisors Inc now owns 292 shares of the company’s stock worth $29,000 after purchasing an additional 142 shares during the period. New England Capital Financial Advisors LLC purchased a new position in Diageo in the 3rd quarter valued at $29,000. Finally, HHM Wealth Advisors LLC increased its stake in Diageo by 76.5% in the 2nd quarter. HHM Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $33,000 after buying an additional 143 shares during the period. Institutional investors and hedge funds own 8.97% of the company’s stock.

About Diageo

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.