Tate & Lyle PLC (TATE) Shares Down 1.9%

Tate & Lyle PLC (LON:TATE)’s share price was down 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 traded hands 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).

Several equities analysts recently commented on TATE shares. Liberum Capital reiterated a “buy” rating and issued a GBX 850 ($11.18) price objective on shares of Tate & Lyle PLC in a research note on Wednesday, August 30th. Jefferies Group LLC upgraded Tate & Lyle PLC to a “buy” rating and dropped their price objective for the company from GBX 800 ($10.52) to GBX 750 ($9.86) in a research note on Monday, October 23rd. Deutsche Bank AG reiterated a “hold” rating and issued a GBX 725 ($9.54) price objective on shares of Tate & Lyle PLC in a research note on Friday, November 3rd. Shore Capital reiterated a “hold” rating on shares of Tate & Lyle PLC in a research note on Friday, July 28th. Finally, Berenberg Bank dropped their price objective on Tate & Lyle PLC from GBX 805 ($10.59) to GBX 730 ($9.60) and set a “hold” rating on the stock in a research note on Friday, September 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average 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. Stockholders of record on Thursday, November 30th will be paid a dividend of GBX 8.40 ($0.11) per share. The ex-dividend date is Thursday, November 30th. This represents a dividend yield of 1.19%.

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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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