JPMorgan Chase & Co. Reaffirms Underweight Rating for Tesco (LON:TSCO)

JPMorgan Chase & Co. restated their underweight rating on shares of Tesco (LON:TSCO) in a research note issued to investors on Friday morning, MarketBeat Ratings reports.

Several other brokerages have also issued reports on TSCO. Shore Capital reaffirmed a buy rating on shares of Tesco in a research report on Wednesday, April 10th. Jefferies Financial Group restated a buy rating and set a GBX 350 ($4.44) price objective on shares of Tesco in a report on Thursday, April 11th. Finally, Barclays reiterated an overweight rating and issued a GBX 350 ($4.44) target price on shares of Tesco in a research note on Friday, May 3rd.

Tesco Stock Performance

Shares of TSCO opened at GBX 306 ($3.88) on Friday. The stock has a 50 day moving average of GBX 305.99 and a 200 day moving average of GBX 294.49. The company has a market capitalization of £21.30 billion, a price-to-earnings ratio of 1,224.00, a PEG ratio of 0.07 and a beta of 0.52. Tesco has a 12 month low of GBX 244.20 ($3.10) and a 12 month high of GBX 316.10 ($4.01). The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 127.23.

Tesco Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 28th. Investors of record on Thursday, May 16th were paid a GBX 8.25 ($0.10) dividend. This is a boost from Tesco’s previous dividend of $3.85. This represents a yield of 2.87%. The ex-dividend date of this dividend was Thursday, May 16th. Tesco’s payout ratio is currently 4,800.00%.

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.