Diageo (NYSE:DEO) Hits New 52-Week Low After Analyst Downgrade

Diageo plc (NYSE:DEO) shares reached a new 52-week low during trading on Tuesday after HSBC downgraded the stock from a buy rating to a hold rating. The company traded as low as $82.25 and last traded at $83.45, with a volume of 540804 shares changing hands. The stock had previously closed at $86.53.

A number of other analysts also recently weighed in on the stock. UBS Group reaffirmed a “neutral” rating on shares of Diageo in a research report on Wednesday, December 3rd. Sanford C. Bernstein set a $124.00 price objective on Diageo and gave the company an “outperform” rating in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Diageo in a research note on Friday, November 28th. Barclays reiterated an “overweight” rating on shares of Diageo in a research note on Thursday, December 11th. Finally, Zacks Research downgraded Diageo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Diageo has a consensus rating of “Hold” and a consensus price target of $116.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dorsey & Whitney Trust CO LLC raised its holdings in Diageo by 3.0% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 3,287 shares of the company’s stock valued at $331,000 after acquiring an additional 96 shares in the last quarter. Integrated Advisors Network LLC lifted its position in Diageo by 3.5% during the 3rd quarter. Integrated Advisors Network LLC now owns 3,110 shares of the company’s stock worth $297,000 after acquiring an additional 104 shares during the period. Glenview Trust Co increased its stake in Diageo by 3.7% in the 4th quarter. Glenview Trust Co now owns 2,928 shares of the company’s stock valued at $253,000 after buying an additional 104 shares during the period. Retirement Planning Co of New England Inc. boosted its holdings in Diageo by 2.0% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 5,684 shares of the company’s stock valued at $542,000 after purchasing an additional 114 shares in the last quarter. Finally, Mission Wealth Management LP raised its position in Diageo by 4.0% in the fourth quarter. Mission Wealth Management LP now owns 2,992 shares of the company’s stock worth $258,000 after acquiring an additional 114 shares in the last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Trading Down 2.2%

The company has a current ratio of 1.60, a quick ratio of 0.71 and a debt-to-equity ratio of 1.53. The firm’s 50-day simple moving average is $91.42 and its two-hundred day simple moving average is $94.94.

Diageo Company Profile

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.