Diageo (LON:DGE) Hits New 12-Month Low - What's Next?

Key Points

• Diageo shares reached a new 52-week low at GBX 1,736.87 ($23.41), closing at GBX 1,774.50 ($23.92) on Tuesday with significant trading volume.
• Analysts have varying price targets for Diageo, with consensus ratings indicating a "Moderate Buy" and an average target price of GBX 2,378.86.
• Insider John Alexander Manzoni recently purchased 340 shares at an average price of GBX 1,927, highlighting some confidence in the stock despite its recent decline.

Diageo plc (LON:DGE - Get Free Report) shares hit a new 52-week low on Tuesday . The stock traded as low as GBX 1,736.87 ($23.41) and last traded at GBX 1,774.50 ($23.92), with a volume of 27924211 shares traded. The stock had previously closed at GBX 1,760 ($23.73).

Analysts Set New Price Targets

Several brokerages recently issued reports on DGE. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Diageo from GBX 2,010 to GBX 2,060 and gave the company a "hold" rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Diageo in a research report on Thursday, August 7th. Berenberg Bank reaffirmed a "buy" rating and set a GBX 2,372 price objective on shares of Diageo in a research report on Tuesday, August 5th. Jefferies Financial Group cut their target price on Diageo from GBX 2,500 to GBX 2,400 and set a "buy" rating on the stock in a research note on Monday, September 8th. Finally, The Goldman Sachs Group raised shares of Diageo to a "neutral" rating and set a GBX 2,000 price target for the company in a research report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 2,378.86.

Diageo Stock Performance

The firm has a market cap of £39.55 billion, a price-to-earnings ratio of 1,683.07, a P/E/G ratio of 1.75 and a beta of 0.36. The company has a debt-to-equity ratio of 234.57, a current ratio of 1.94 and a quick ratio of 0.62. The firm has a fifty day simple moving average of GBX 1,936.12 and a two-hundred day simple moving average of GBX 1,981.83.

Insiders Place Their Bets

In related news, insider John Alexander Manzoni purchased 340 shares of the business's stock in a transaction on Wednesday, September 10th. The shares were acquired at an average price of GBX 1,927 per share, for a total transaction of £6,551.80. Over the last quarter, insiders have purchased 1,019 shares of company stock worth $2,012,305. 0.16% of the stock is currently owned by insiders.

Diageo Company Profile

Diageo is a global leader in premium drinks, across spirits and beer, a business built on the principles and foundations laid by the giants of the industry. With over 200 brands sold in 180 countries, our portfolio has remarkable breadth. From centuries-old names to exciting new entrants, and global giants to local legends, we're building the very best brands out there, and with over 30,000 talented people based in over 135 countries, we're a truly global company.

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