Tate & Lyle (LON:TATE) Stock Price Passes Above 200-Day Moving Average of $637.03

Tate & Lyle plc (LON:TATE)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 637.03 ($8.11) and traded as high as GBX 676.18 ($8.61). Tate & Lyle shares last traded at GBX 673.50 ($8.58), with a volume of 454,025 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Berenberg Bank restated a “buy” rating and issued a GBX 860 ($10.95) price target on shares of Tate & Lyle in a research note on Wednesday, May 29th. Barclays boosted their target price on shares of Tate & Lyle from GBX 760 ($9.68) to GBX 790 ($10.06) and gave the stock an “equal weight” rating in a report on Tuesday, April 9th.

Tate & Lyle Trading Up 0.1 %

The company has a debt-to-equity ratio of 52.89, a current ratio of 2.88 and a quick ratio of 1.77. The business has a 50-day simple moving average of GBX 663.24 and a two-hundred day simple moving average of GBX 637.37. The stock has a market cap of £2.71 billion, a price-to-earnings ratio of 1,531.82, a P/E/G ratio of 2.25 and a beta of 0.47.

Tate & Lyle Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, August 2nd. Investors of record on Thursday, June 20th will be paid a GBX 12.90 ($0.16) dividend. This represents a yield of 1.91%. The ex-dividend date of this dividend is Thursday, June 20th. This is a boost from Tate & Lyle’s previous dividend of $6.20. Tate & Lyle’s dividend payout ratio is 4,318.18%.

About Tate & Lyle

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.