Tesco (LON:TSCO) Shares Pass Above 200-Day Moving Average of $294.20

Tesco PLC (LON:TSCO) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 294.20 ($3.73) and traded as high as GBX 310.40 ($3.94). Tesco shares last traded at GBX 307.60 ($3.90), with a volume of 16,921,670 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TSCO shares. Shore Capital reissued a “buy” rating on shares of Tesco in a research note on Wednesday, April 10th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 350 ($4.44) target price on shares of Tesco in a research note on Thursday, April 11th. JPMorgan Chase & Co. upped their target price on Tesco from GBX 220 ($2.79) to GBX 240 ($3.04) and gave the company an “underweight” rating in a report on Wednesday, May 15th. Finally, Barclays reaffirmed an “overweight” rating and set a GBX 350 ($4.44) target price on shares of Tesco in a report on Friday, May 3rd.

Tesco Price Performance

The stock has a 50-day simple moving average of GBX 304.52 and a 200 day simple moving average of GBX 294.20. The company has a debt-to-equity ratio of 127.23, a quick ratio of 0.60 and a current ratio of 0.81. The company has a market cap of £21.44 billion, a P/E ratio of 1,230.40, a P/E/G ratio of 0.07 and a beta of 0.52.

Tesco Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 16th will be given a dividend of GBX 8.25 ($0.10) per share. This represents a dividend yield of 2.87%. The ex-dividend date of this dividend is Thursday, May 16th. This is an increase from Tesco’s previous dividend of $3.85. Tesco’s dividend payout ratio (DPR) is 4,800.00%.

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.