Deutsche Bank AG Reaffirms “Hold” Rating for Tate & Lyle PLC (TATE)
Deutsche Bank AG reiterated their hold rating on shares of Tate & Lyle PLC (LON:TATE) in a research note released on Friday morning. The firm currently has a GBX 725 ($9.56) price objective on the stock.
A number of other brokerages have also recently commented on TATE. Shore Capital reissued a hold rating on shares of Tate & Lyle PLC in a research note on Friday. Liberum Capital reissued a buy rating and issued a GBX 850 ($11.21) price objective on shares of Tate & Lyle PLC in a research note on Thursday, July 27th. Jefferies Group LLC cut shares of Tate & Lyle PLC to a hold rating and dropped their price objective for the stock from GBX 870 ($11.48) to GBX 800 ($10.55) in a research note on Wednesday, June 7th. Goldman Sachs Group, Inc. (The) reissued a neutral rating and issued a GBX 750 ($9.89) price objective on shares of Tate & Lyle PLC in a research note on Monday, May 15th. Finally, Citigroup Inc. reissued a neutral rating and issued a GBX 800 ($10.55) price objective on shares of Tate & Lyle PLC in a research note on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company’s stock. Tate & Lyle PLC has an average rating of Hold and an average target price of GBX 778.23 ($10.27).
Shares of Tate & Lyle PLC (TATE) opened at 672.50 on Friday. Tate & Lyle PLC has a 52-week low of GBX 653.50 and a 52-week high of GBX 850.00. The firm’s 50-day moving average is GBX 688.45 and its 200 day moving average is GBX 730.14. The stock’s market capitalization is GBX 3.11 billion.
The company also recently declared a dividend, which will be paid on Tuesday, August 1st. Investors of record on Thursday, June 29th will be paid a dividend of GBX 19.80 ($0.26) per share. The ex-dividend date is Thursday, June 29th. This is a boost from Tate & Lyle PLC’s previous dividend of $8.20. This represents a dividend yield of 2.64%.
In related news, insider Javed Ahmed sold 85,813 shares of Tate & Lyle PLC stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of GBX 727 ($9.59), for a total transaction of £623,860.51 ($822,926.41).
About Tate & Lyle PLC
Tate & Lyle PLC is a provider of ingredients and solutions to the food, beverage and other industries. The Company’s segments include Speciality Food Ingredients and Bulk Ingredients. The Speciality Food Ingredients segment’s product categories include dairy, beverage, bakery and convenience. The Bulk Ingredients segment’s product lines include bulk sweeteners for food and beverage customers, and industrial starches for paper and construction industries.
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