Tate & Lyle (TATYY) Downgraded to “Hold” at Zacks Investment Research

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Zacks Investment Research lowered shares of Tate & Lyle (OTCMKTS:TATYY) from a buy rating to a hold rating in a research note published on Wednesday morning.

According to Zacks, “Tate & Lyle Ventures and Agri Investment Fund have co-led a 3.5m investment into Fugeia, a newly formed functional food technology business with a focus on gut health. “

Other analysts also recently issued research reports about the stock. ValuEngine raised shares of Tate & Lyle from a sell rating to a hold rating in a report on Tuesday, May 29th. Jefferies Financial Group downgraded shares of Tate & Lyle from a buy rating to a hold rating in a report on Wednesday, June 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $38.00.

OTCMKTS TATYY opened at $33.15 on Wednesday. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 4.06 and a beta of 0.46. Tate & Lyle has a 12-month low of $29.39 and a 12-month high of $38.25.

The company also recently declared a Semi-Annual dividend, which was paid on Monday, August 13th. Stockholders of record on Friday, June 22nd were issued a dividend of $1.043 per share. The ex-dividend date of this dividend was Thursday, June 21st. Tate & Lyle’s dividend payout ratio (DPR) is presently 76.32%.

Tate & Lyle Company Profile

Tate & Lyle Plc engages in the provision of ingredients and solutions to the food, beverage and other industries. It operates through the following segments: Food & Beverage Solutions, Sucralose, and Primary Products. The Food & Beverage Solutions and Sucralose segment provides solutions for customers that meet consumer demand for healthier and tastier food and drink.

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