Diageo (NYSE:DEO) Hits New 1-Year Low – What’s Next?

Diageo plc (NYSE:DEO) shares reached a new 52-week low on Wednesday . The stock traded as low as $119.36 and last traded at $119.68, with a volume of 59630 shares. The stock had previously closed at $123.89.

Wall Street Analyst Weigh In

DEO has been the topic of several recent analyst reports. Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Royal Bank of Canada raised shares of Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Finally, The Goldman Sachs Group downgraded Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold”.

Diageo Stock Performance

The business’s 50 day simple moving average is $132.52 and its two-hundred day simple moving average is $132.49. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62.

Hedge Funds Weigh In On Diageo

Several large investors have recently added to or reduced their stakes in the business. Clearbridge Investments LLC lifted its position in shares of Diageo by 7.0% during the 1st quarter. Clearbridge Investments LLC now owns 2,351,654 shares of the company’s stock worth $349,785,000 after buying an additional 154,497 shares in the last quarter. Markel Group Inc. increased its holdings in Diageo by 0.5% in the 2nd quarter. Markel Group Inc. now owns 1,366,708 shares of the company’s stock worth $172,315,000 after acquiring an additional 6,300 shares during the last quarter. Confluence Investment Management LLC lifted its stake in shares of Diageo by 30.5% during the 3rd quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock valued at $170,623,000 after buying an additional 284,046 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Diageo by 7.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock worth $142,165,000 after purchasing an additional 74,745 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Diageo by 2.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,106,473 shares of the company’s stock valued at $139,504,000 after buying an additional 23,435 shares during the period. Institutional investors 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.