Tesco (LON:TSCO) Rating Reiterated by Shore Capital

Shore Capital reaffirmed their buy rating on shares of Tesco (LON:TSCO) in a research note issued to investors on Wednesday, MarketBeat reports.

Tesco Stock Performance

LON:TSCO opened at GBX 282.90 ($3.58) on Wednesday. The stock has a market capitalization of £19.92 billion, a P/E ratio of 1,414.50, a P/E/G ratio of 3.35 and a beta of 0.52. The stock has a 50-day moving average price of GBX 285.35 and a 200 day moving average price of GBX 284.02. The company has a current ratio of 0.74, a quick ratio of 0.60 and a debt-to-equity ratio of 129.69. Tesco has a 12-month low of GBX 244.20 ($3.09) and a 12-month high of GBX 306.10 ($3.87).

Tesco Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 16th will be issued a dividend of GBX 8.25 ($0.10) per share. This represents a yield of 2.87%. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from Tesco’s previous dividend of $3.85. Tesco’s dividend payout ratio (DPR) is currently 5,500.00%.

Insider Buying and Selling at Tesco

In other news, insider Dame Carolyn Fairbairn purchased 35,000 shares of the business’s stock in a transaction on Monday, January 15th. The stock was acquired at an average price of GBX 300 ($3.80) per share, for a total transaction of £105,000 ($132,894.57). Insiders bought 35,144 shares of company stock worth $10,541,403 in the last quarter. 2.06% of the stock is owned by corporate insiders.

About Tesco

Tesco PLC, together with its subsidiaries, operates as a grocery retailer in the United Kingdom, Republic of Ireland, the Czech Republic, Slovakia, and Hungary. It offers grocery products through its stores, as well as online. The company is also involved in the food and drink wholesaling activities.