Diageo (NYSE:DEO) Hits New 1-Year Low - Here's What Happened

Diageo plc (NYSE:DEO - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $104.00 and last traded at $104.40, with a volume of 531291 shares trading hands. The stock had previously closed at $105.38.

Analyst Ratings Changes

DEO has been the topic of several research analyst reports. Berenberg Bank began coverage on Diageo in a research report on Wednesday. They set a "buy" rating on the stock. TD Cowen increased their price target on Diageo from $124.00 to $129.00 and gave the stock a "hold" rating in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. Jefferies Financial Group upgraded shares of Diageo from a "hold" rating to a "buy" rating in a research report on Thursday, December 5th. Finally, UBS Group upgraded shares of Diageo from a "sell" rating to a "buy" rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $129.00.

Diageo Trading Down 3.5 %

The business has a fifty day moving average of $110.53 and a 200-day moving average of $121.26. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. The company has a market capitalization of $57.96 billion, a P/E ratio of 15.21, a PEG ratio of 2.39 and a beta of 0.63.

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Diageo Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Friday, February 28th will be paid a $1.62 dividend. This represents a dividend yield of 3.8%. The ex-dividend date is Friday, February 28th. Diageo's dividend payout ratio (DPR) is 46.42%.

Institutional Investors Weigh In On Diageo

Several hedge funds and other institutional investors have recently made changes to their positions in DEO. Canoe Financial LP lifted its position in Diageo by 88,407.3% in the 4th quarter. Canoe Financial LP now owns 8,113,468 shares of the company's stock valued at $1,031,465,000 after acquiring an additional 8,104,301 shares in the last quarter. FMR LLC raised its stake in shares of Diageo by 10.9% in the fourth quarter. FMR LLC now owns 5,813,938 shares of the company's stock worth $739,126,000 after purchasing an additional 571,873 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in shares of Diageo by 234.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company's stock valued at $330,627,000 after purchasing an additional 1,822,994 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Diageo by 0.3% during the fourth quarter. Royal Bank of Canada now owns 1,540,800 shares of the company's stock valued at $195,883,000 after buying an additional 3,876 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings 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 buying an additional 1,296,285 shares in the last quarter. 8.97% of the stock is owned by institutional investors.

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.