Tate & Lyle (LON:TATE) Stock Passes Below 200 Day Moving Average – Here’s What Happened

Tate & Lyle plc (LON:TATE)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 683.57 ($8.49) and traded as low as GBX 652.50 ($8.11). Tate & Lyle shares last traded at GBX 655.40 ($8.14), with a volume of 1,996,690 shares.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft boosted their price target on Tate & Lyle from GBX 850 ($10.56) to GBX 950 ($11.80) and gave the company a “buy” rating in a report on Wednesday, December 11th.

Tate & Lyle Stock Down 0.4 %

The stock has a market capitalization of £2.49 billion, a price-to-earnings ratio of 1,489.54, a price-to-earnings-growth ratio of 1.37 and a beta of 0.50. The firm has a 50-day moving average of GBX 718.66 and a 200 day moving average of GBX 683.57. The company has a current ratio of 3.22, a quick ratio of 1.77 and a debt-to-equity ratio of 47.62.

Tate & Lyle Cuts Dividend

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