Nick Hampton Sells 333,000 Shares of Tate & Lyle PLC (LON:TATE) Stock

Tate & Lyle PLC (LON:TATE) insider Nick Hampton sold 333,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of GBX 725 ($9.47), for a total value of £2,414,250 ($3,154,645.24).

TATE traded up GBX 4.20 ($0.05) during midday trading on Friday, reaching GBX 738.40 ($9.65). 2,464,505 shares of the company’s stock traded hands, compared to its average volume of 2,840,000. Tate & Lyle PLC has a 52 week low of GBX 620 ($8.10) and a 52 week high of GBX 810 ($10.58). The company has a market cap of $3.43 billion and a PE ratio of 19.13. The firm has a fifty day moving average price of GBX 756.32. The company has a quick ratio of 0.88, a current ratio of 1.61 and a debt-to-equity ratio of 40.09.

The company also recently announced a dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, June 20th will be given a GBX 20.80 ($0.27) dividend. The ex-dividend date is Thursday, June 20th. This represents a dividend yield of 2.75%. This is a positive change from Tate & Lyle’s previous dividend of $8.60. Tate & Lyle’s dividend payout ratio is currently 0.75%.

A number of research firms have recently issued reports on TATE. Barclays began coverage on Tate & Lyle in a research note on Tuesday, March 19th. They issued an “overweight” rating and a GBX 800 ($10.45) target price for the company. Shore Capital reissued a “hold” rating on shares of Tate & Lyle in a research note on Tuesday, March 26th. Liberum Capital reissued a “buy” rating on shares of Tate & Lyle in a research note on Friday, May 3rd. Deutsche Bank reissued a “hold” rating and issued a GBX 700 ($9.15) target price on shares of Tate & Lyle in a research note on Monday, June 17th. Finally, Berenberg Bank upped their price target on Tate & Lyle from GBX 740 ($9.67) to GBX 795 ($10.39) and gave the company a “hold” rating in a research report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Tate & Lyle presently has a consensus rating of “Hold” and an average target price of GBX 755.63 ($9.87).

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.

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