Tate & Lyle PLC (TATE) Trading Down 1.9%
Shares of Tate & Lyle PLC (LON:TATE) dropped 1.9% during trading on Tuesday . The stock traded as low as GBX 704.84 ($9.27) and last traded at GBX 696.50 ($9.16). Approximately 4,549,944 shares were traded during mid-day trading, an increase of 98% from the average daily volume of 2,300,000 shares. The stock had previously closed at GBX 710 ($9.34).
TATE has been the topic of several recent research reports. Shore Capital reaffirmed a “hold” rating on shares of Tate & Lyle PLC in a report on Friday, July 28th. Liberum Capital reaffirmed a “buy” rating and issued a GBX 850 ($11.18) price objective on shares of Tate & Lyle PLC in a report on Thursday, July 27th. Berenberg Bank reissued a “hold” rating and set a GBX 730 ($9.60) price target on shares of Tate & Lyle PLC in a report on Thursday, November 2nd. Deutsche Bank AG reissued a “hold” rating and set a GBX 725 ($9.54) price target on shares of Tate & Lyle PLC in a report on Friday, July 28th. Finally, Credit Suisse Group lowered their price target on shares of Tate & Lyle PLC from GBX 780 ($10.26) to GBX 710 ($9.34) and set a “neutral” rating on the stock in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of GBX 743.36 ($9.78).
The business also recently disclosed a dividend, which will be paid on Friday, January 5th. Shareholders of record on Thursday, November 30th will be given a dividend of GBX 8.40 ($0.11) per share. This represents a yield of 1.19%. The ex-dividend date of this dividend is Thursday, November 30th.
Tate & Lyle PLC Company Profile
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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