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

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

Analyst Ratings Changes

A number of equities analysts recently commented on DEO shares. Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Royal Bank of Canada raised Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Diageo currently has a consensus rating of “Hold”.

Diageo Stock Performance

The firm’s 50 day moving average price is $131.02 and its 200-day moving average price is $131.38. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55.

Hedge Funds Weigh In On Diageo

A number of hedge funds have recently made changes to their positions in DEO. Brooklyn Investment Group bought a new stake in Diageo in the third quarter valued at about $25,000. Beacon Capital Management LLC grew its position in Diageo by 777.3% in the first quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock valued at $29,000 after acquiring an additional 171 shares during the period. 1620 Investment Advisors Inc. bought a new stake in shares of Diageo during the second quarter valued at approximately $25,000. Triad Wealth Partners LLC acquired a new stake in shares of Diageo in the second quarter valued at approximately $25,000. Finally, Concord Wealth Partners acquired a new stake in shares of Diageo in the 3rd quarter valued at $38,000. 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.