Diageo (NYSE:DEO) Sets New 1-Year Low – Time to Sell?

Diageo plc (NYSE:DEO)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $105.23 and last traded at $106.29, with a volume of 1642224 shares. The stock had previously closed at $108.13.

Analyst Ratings Changes

A number of equities research analysts recently commented on DEO shares. UBS Group raised Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. TD Cowen boosted their price target on Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft raised Diageo from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $129.00.

Diageo Price Performance

The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $59.18 billion, a PE ratio of 15.54, a PEG ratio of 2.39 and a beta of 0.65. The stock has a 50-day moving average price of $113.60 and a 200 day moving average price of $123.12.

Diageo Announces Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, April 24th. Investors of record on Friday, February 28th will be given a dividend of $1.62 per share. This represents a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, February 28th. Diageo’s payout ratio is 46.42%.

Institutional Trading of Diageo

Several large investors have recently made changes to their positions in DEO. CIBC Asset Management Inc increased its position in shares of Diageo by 106.2% during the third quarter. CIBC Asset Management Inc now owns 31,643 shares of the company’s stock worth $4,441,000 after purchasing an additional 16,300 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of Diageo during the third quarter worth approximately $261,000. Caprock Group LLC increased its position in shares of Diageo by 4.8% during the third quarter. Caprock Group LLC now owns 6,063 shares of the company’s stock worth $867,000 after purchasing an additional 280 shares in the last quarter. Prospera Financial Services Inc increased its position in shares of Diageo by 25.9% during the third quarter. Prospera Financial Services Inc now owns 15,453 shares of the company’s stock worth $2,170,000 after purchasing an additional 3,178 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Diageo by 6.1% during the third quarter. PNC Financial Services Group Inc. now owns 77,391 shares of the company’s stock worth $10,861,000 after purchasing an additional 4,459 shares in the last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

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.