Diageo (NYSE:DEO) Sets New 12-Month Low – Time to Sell?

Diageo plc (NYSE:DEO)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $85.12 and last traded at $85.1950, with a volume of 303962 shares traded. The stock had previously closed at $85.42.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. UBS Group restated a “neutral” rating on shares of Diageo in a report on Wednesday, December 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a research note on Wednesday, October 8th. Zacks Research downgraded shares of Diageo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Barclays reissued an “overweight” rating on shares of Diageo in a research report on Thursday, December 11th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Diageo in a research note on Friday, November 28th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $119.00.

Diageo Stock Performance

The stock’s fifty day simple moving average is $91.96 and its two-hundred day simple moving average is $99.53. The company has a current ratio of 1.63, a quick ratio of 0.64 and a debt-to-equity ratio of 1.64.

Hedge Funds Weigh In On Diageo

Institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC bought a new position in Diageo during the 4th quarter worth $202,000. Nuveen LLC bought a new position in Diageo in the 1st quarter worth about $1,060,000. Russell Investments Group Ltd. increased its stake in shares of Diageo by 11.0% in the first quarter. Russell Investments Group Ltd. now owns 3,378 shares of the company’s stock valued at $354,000 after purchasing an additional 336 shares during the period. American Century Companies Inc. increased its stake in shares of Diageo by 3.8% in the first quarter. American Century Companies Inc. now owns 106,859 shares of the company’s stock valued at $11,198,000 after purchasing an additional 3,894 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of Diageo during the first quarter valued at approximately $340,000. 8.97% of the stock is owned by institutional investors.

About Diageo

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.