Tesco (LON:TSCO) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Tesco PLC (LON:TSCO)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 330.72 ($4.26) and traded as high as GBX 342.04 ($4.40). Tesco shares last traded at GBX 341.80 ($4.40), with a volume of 15,231,183 shares traded.

Analysts Set New Price Targets

Separately, Shore Capital restated a “buy” rating on shares of Tesco in a research report on Tuesday, September 3rd.

Tesco Stock Performance

The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 126.42. The stock has a market capitalization of £23.28 billion, a price-to-earnings ratio of 1,265.93, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The firm’s fifty day moving average price is GBX 358.47 and its 200 day moving average price is GBX 330.72.

Tesco Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 10th will be given a GBX 4.25 ($0.05) dividend. This represents a yield of 1.2%. The ex-dividend date is Thursday, October 10th. Tesco’s payout ratio is 4,814.81%.

Tesco Company Profile

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.