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

Diageo plc (NYSE:DEO)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $117.72 and last traded at $117.86, with a volume of 491001 shares changing hands. The stock had previously closed at $119.45.

Analyst Ratings Changes

DEO has been the subject of a number of recent analyst reports. Royal Bank of Canada raised Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Bank of America raised Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Three 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 stock. Based on data from MarketBeat, Diageo currently has an average rating of “Hold”.

Diageo Stock Performance

The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55. The stock has a fifty day moving average of $130.48 and a two-hundred day moving average of $131.17.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DEO. FMR LLC increased its holdings in Diageo by 9.1% in the third quarter. FMR LLC now owns 5,242,065 shares of the company’s stock valued at $735,671,000 after buying an additional 437,646 shares during the last quarter. Markel Group Inc. increased its holdings in Diageo by 0.5% in the second quarter. Markel Group Inc. now owns 1,366,708 shares of the company’s stock valued at $172,315,000 after buying an additional 6,300 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Diageo by 13.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,254,393 shares of the company’s stock valued at $176,042,000 after purchasing an additional 147,920 shares during the last quarter. Confluence Investment Management LLC grew its holdings in shares of Diageo by 30.5% during the third quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock valued at $170,623,000 after purchasing an additional 284,046 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Diageo by 7.1% during the second quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock valued at $142,165,000 after purchasing an additional 74,745 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

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.