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

Shares of Diageo plc (NYSE:DEO) hit a new 52-week low on Wednesday . The stock traded as low as $118.04 and last traded at $118.04, with a volume of 77201 shares. The stock had previously closed at $119.68.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Bank of America raised shares of Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Royal Bank of Canada raised shares of Diageo from an “underperform” rating to a “sector perform” rating in a report on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Diageo Stock Performance

The company’s fifty day simple moving average is $131.91 and its two-hundred day simple moving average is $132.03. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53. The company has a market capitalization of $66.67 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 3.41 and a beta of 0.71.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Confluence Investment Management LLC boosted its holdings in shares of Diageo by 30.5% in the 3rd quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock valued at $170,623,000 after buying an additional 284,046 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of Diageo by 16.4% in the 1st quarter. QRG Capital Management Inc. now owns 7,185 shares of the company’s stock valued at $1,069,000 after buying an additional 1,011 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Diageo by 461.4% in the 1st quarter. Cetera Investment Advisers now owns 70,630 shares of the company’s stock valued at $10,506,000 after buying an additional 58,048 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Diageo in the 3rd quarter valued at about $9,769,000. Finally, Eldred Rock Partners LLC boosted its holdings in shares of Diageo by 120.5% in the 3rd quarter. Eldred Rock Partners LLC now owns 54,769 shares of the company’s stock valued at $7,752,000 after buying an additional 29,928 shares during the period. 8.97% of the stock is owned by institutional investors and hedge funds.

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.