Tate & Lyle (LON:TATE) Stock Passes Above 200-Day Moving Average – Here’s Why

Tate & Lyle plc (LON:TATE) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 685.17 ($8.61) and traded as high as GBX 699.50 ($8.79). Tate & Lyle shares last traded at GBX 693 ($8.71), with a volume of 799,289 shares trading hands.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft boosted their target price on Tate & Lyle from GBX 850 ($10.69) to GBX 950 ($11.94) and gave the stock a “buy” rating in a research report on Wednesday, December 11th.

Tate & Lyle Stock Down 1.1 %

The firm’s fifty day simple moving average is GBX 741.51 and its 200-day simple moving average is GBX 685.17. The company has a market cap of £2.60 billion, a PE ratio of 1,557.95, a P/E/G ratio of 1.37 and a beta of 0.50. The company has a quick ratio of 1.77, a current ratio of 3.22 and a debt-to-equity ratio of 47.62.

Tate & Lyle Cuts Dividend

The business also recently announced a dividend, which will be paid on Monday, January 6th. Investors of record on Thursday, November 21st will be paid a GBX 6.40 ($0.08) dividend. This represents a yield of 0.83%. The ex-dividend date of this dividend is Thursday, November 21st. Tate & Lyle’s payout ratio is currently 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.