Diageo (LON:DGE) Sets New 52-Week High – Here’s Why

Diageo plc (LON:DGE) shares hit a new 52-week high during mid-day trading on Friday. The company traded as high as GBX 1,915.50 and last traded at GBX 1,913, with a volume of 48,431,988 shares traded. The stock had previously closed at GBX 1,899.50.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DGE. Jefferies Financial Group reissued a “buy” rating and issued a GBX 2,200 price target on shares of Diageo in a research report on Thursday, November 5th. Royal Bank Of Canada restated an “outperform” rating and set a GBX 2,000 price objective on shares of Diageo in a report on Monday, August 24th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 2,223 price objective on shares of Diageo in a research note on Friday, November 6th. Finally, Deutsche Bank lifted their price objective on shares of Diageo from GBX 1,734 to GBX 1,740 and gave the company a “hold” rating in a report on Friday, November 6th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of GBX 1,960.50.

Diageo Trading Up 1.2%

The company has a debt-to-equity ratio of 203.12, a current ratio of 1.60 and a quick ratio of 0.62. The firm’s fifty day moving average is GBX 1,700.21 and its two-hundred day moving average is GBX 1,606.35. The firm has a market capitalization of £42.75 billion, a PE ratio of 24.67, a PEG ratio of 1.75 and a beta of 0.31.

Insider Activity at Diageo

In other news, insider John Alexander Manzoni bought 414 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were purchased at an average price of GBX 1,585 per share, with a total value of £6,561.90. Over the last quarter, insiders have purchased 1,189 shares of company stock worth $2,014,569. 0.16% of the stock is owned by company 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. With such diversity, we’re able to truly represent our broad consumer base and think differently about the future.