Diageo (NYSE:DEO) Sets New 12-Month Low - Here's What Happened

Diageo plc (NYSE:DEO - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $100.72 and last traded at $101.61, with a volume of 782466 shares changing hands. The stock had previously closed at $103.97.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DEO. Berenberg Bank started coverage on shares of Diageo in a research report on Wednesday, April 2nd. They issued a "buy" rating on the stock. TD Cowen boosted their price target on shares of Diageo from $124.00 to $129.00 and gave the stock a "hold" rating in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Diageo from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Diageo presently has an average rating of "Hold" and an average price target of $129.00.

Diageo Price Performance

The firm has a fifty day moving average of $107.97 and a two-hundred day moving average of $119.65. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $60.92 billion, a PE ratio of 15.99, a PEG ratio of 2.39 and a beta of 0.63.

Diageo Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Friday, February 28th will be issued 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 is 46.42%.

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Institutional Investors Weigh In On Diageo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DEO. CoreFirst Bank & Trust bought a new position in shares of Diageo during the fourth quarter valued at about $25,000. Orion Capital Management LLC purchased a new position in Diageo during the 4th quarter valued at about $25,000. Perkins Coie Trust Co bought a new position in Diageo during the 1st quarter valued at approximately $27,000. Eastern Bank lifted its holdings in Diageo by 107.8% in the 4th quarter. Eastern Bank now owns 241 shares of the company's stock worth $31,000 after buying an additional 125 shares during the period. Finally, BNP Paribas bought a new stake in shares of Diageo in the 4th quarter worth approximately $32,000. 8.97% of the stock is currently owned by institutional investors.

Diageo Company Profile

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.