Diageo (NYSE:DEO) Hits New 52-Week Low – What’s Next?

Diageo plc (NYSE:DEO) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $112.75 and last traded at $112.58, with a volume of 90209 shares changing hands. The stock had previously closed at $115.95.

Wall Street Analysts Forecast Growth

DEO has been the subject of a number of research analyst reports. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. 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 research note on Wednesday, January 8th. Finally, Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $129.00.

Diageo Stock Performance

The business’s 50-day simple moving average is $122.81 and its two-hundred day simple moving average is $127.13. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53.

Institutional Trading of Diageo

Large investors have recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of Diageo during the 3rd quarter valued at $25,000. Eastern Bank grew its holdings in shares of Diageo by 107.8% during the 4th quarter. Eastern Bank now owns 241 shares of the company’s stock valued at $31,000 after acquiring an additional 125 shares in the last quarter. Modus Advisors LLC acquired a new position in Diageo in the 4th quarter worth about $35,000. Kestra Investment Management LLC acquired a new position in Diageo in the fourth quarter worth approximately $36,000. Finally, Concord Wealth Partners bought a new position in shares of Diageo during the 3rd quarter valued at $38,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Company Profile

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.