Diageo (NYSE:DEO) Sets New 1-Year Low Following Analyst Downgrade

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

A number of other analysts have also recently weighed in on DEO. Sanford C. Bernstein set a $124.00 price objective on shares of Diageo and gave the stock an “outperform” rating in a report on Monday, December 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research report on Wednesday, January 21st. Royal Bank Of Canada upgraded shares of Diageo from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. UBS Group reissued a “neutral” rating on shares of Diageo in a research report on Wednesday, December 3rd. Finally, Zacks Research downgraded shares of 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Diageo presently has an average rating of “Hold” and a consensus target price of $116.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dorsey & Whitney Trust CO LLC raised its holdings in shares of 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 buying an additional 96 shares during the last quarter. Integrated Advisors Network LLC grew its holdings in shares of Diageo by 3.5% during the third quarter. Integrated Advisors Network LLC now owns 3,110 shares of the company’s stock worth $297,000 after buying an additional 104 shares during the last quarter. Glenview Trust Co increased its position 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 acquiring an additional 104 shares during the period. Retirement Planning Co of New England Inc. raised its stake in Diageo by 2.0% during 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 acquiring an additional 114 shares during the last quarter. Finally, Mission Wealth Management LP raised its stake in Diageo by 4.0% during the 4th quarter. Mission Wealth Management LP now owns 2,992 shares of the company’s stock valued at $258,000 after acquiring an additional 114 shares during the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Stock Down 2.8%

The business has a 50-day simple moving average of $91.48 and a two-hundred day simple moving average of $95.03. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.71 and a current ratio of 1.60.

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.