Tesco (LON:TSCO) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Tesco PLC (LON:TSCO) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 332.67 ($4.17) and traded as high as GBX 350.73 ($4.40). Tesco shares last traded at GBX 348.60 ($4.37), with a volume of 9,653,348 shares changing hands.

Analyst Upgrades and Downgrades

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

Tesco Price Performance

The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 126.42. The business has a 50-day moving average price of GBX 356.06 and a two-hundred day moving average price of GBX 333.44. The company has a market capitalization of £24.07 billion, a price-to-earnings ratio of 1,299.63, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51.

Tesco Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 10th will be given a dividend of GBX 4.25 ($0.05) per share. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend 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.