Tesco (LON:TSCO) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Tesco PLC (LON:TSCO) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 332.67 ($4.21) and traded as high as GBX 350.73 ($4.44). Tesco shares last traded at GBX 348.60 ($4.41), with a volume of 9,653,348 shares.

Wall Street Analyst Weigh In

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

Tesco Stock Up 0.2 %

The company has a market capitalization of £23.74 billion, a PE ratio of 1,291.11, a P/E/G ratio of 1.43 and a beta of 0.51. 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 stock has a 50-day moving average of GBX 356.72 and a 200 day moving average of GBX 332.67.

Tesco Cuts Dividend

The business also recently disclosed 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 of this dividend is Thursday, October 10th. Tesco’s dividend payout ratio is 4,814.81%.

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.