Tate & Lyle (LON:TATE) Stock Price Crosses Above 200-Day Moving Average of $699.47

Tate & Lyle plc (LON:TATEGet Rating) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 699.47 ($9.10) and traded as high as GBX 777.53 ($10.12). Tate & Lyle shares last traded at GBX 768 ($9.99), with a volume of 821,793 shares changing hands.

A number of equities research analysts have weighed in on the company. Barclays lifted their price objective on Tate & Lyle from GBX 930 ($12.10) to GBX 940 ($12.23) and gave the company an “overweight” rating in a report on Monday, February 14th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 935 ($12.16) price objective on shares of Tate & Lyle in a report on Wednesday, March 23rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Tate & Lyle in a report on Tuesday, February 8th.

The company has a quick ratio of 0.86, a current ratio of 3.03 and a debt-to-equity ratio of 48.01. The business has a fifty day simple moving average of GBX 737.39 and a two-hundred day simple moving average of GBX 699.47. The company has a market capitalization of £3.60 billion and a price-to-earnings ratio of 16.31.

The firm also recently announced a dividend, which will be paid on Monday, May 16th. Stockholders of record on Tuesday, May 3rd will be issued a GBX 107 ($1.39) dividend. This is an increase from Tate & Lyle’s previous dividend of $9.00. The ex-dividend date is Tuesday, May 3rd. Tate & Lyle’s payout ratio is presently 0.65%.

In other news, insider Warren Tucker sold 4,321 shares of the business’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of GBX 731 ($9.51), for a total value of £31,586.51 ($41,096.16).

About Tate & Lyle (LON:TATE)

Tate & Lyle PLC, together with its subsidiaries, provides ingredients and solutions to the food, beverage, and other industries in the United States, the United Kingdom, other European countries, and internationally. It operates through three segments: Food & Beverage Solutions, Sucralose, and Primary Products.

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