Diageo (NYSE:DEO) Hits New 12-Month Low – Should You Sell?

Diageo plc (NYSE:DEO) shares reached a new 52-week low on Monday . The stock traded as low as $104.00 and last traded at $104.40, with a volume of 531291 shares. The stock had previously closed at $105.38.

Analyst Ratings Changes

Several equities analysts have commented on DEO shares. TD Cowen raised their target price on shares of 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. UBS Group raised Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft raised Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Diageo presently has an average rating of “Hold” and an average price target of $129.00.

Diageo Stock Performance

The company has a 50-day moving average of $111.55 and a 200-day moving average of $121.85. The firm has a market capitalization of $58.42 billion, a P/E ratio of 15.33, a price-to-earnings-growth ratio of 2.39 and a beta of 0.65. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62.

Diageo Announces Dividend

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

Hedge Funds Weigh In On Diageo

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Canoe Financial LP boosted its position in shares of Diageo by 88,407.3% during the 4th quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock valued at $1,031,465,000 after purchasing an additional 8,104,301 shares in the last quarter. FMR LLC grew its position in shares of Diageo by 10.9% during the 4th quarter. FMR LLC now owns 5,813,938 shares of the company’s stock worth $739,126,000 after buying an additional 571,873 shares during the period. Kovitz Investment Group Partners LLC increased its stake in shares of Diageo by 234.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company’s stock valued at $330,627,000 after acquiring an additional 1,822,994 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Diageo by 0.3% during the 4th quarter. Royal Bank of Canada now owns 1,540,800 shares of the company’s stock valued at $195,883,000 after acquiring an additional 3,876 shares during the period. Finally, Bank of Montreal Can boosted its stake in Diageo by 1,181.5% during the fourth quarter. Bank of Montreal Can now owns 1,406,004 shares of the company’s stock worth $178,745,000 after acquiring an additional 1,296,285 shares in the last quarter. 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.