Tesco (LON:TSCO) Reaches New 12-Month High After Dividend Announcement

Tesco PLC (LON:TSCO - Get Free Report) hit a new 52-week high on Wednesday following a dividend announcement from the company. The stock traded as high as GBX 306.10 ($3.87) and last traded at GBX 304.80 ($3.86), with a volume of 9716563 shares. The stock had previously closed at GBX 287.50 ($3.64).

The newly announced dividend which will be paid on Friday, June 28th. Investors of record on Thursday, May 16th will be paid a dividend of GBX 8.25 ($0.10) per share. This represents a dividend yield of 2.87%. This is a positive change from Tesco's previous dividend of $3.85. The ex-dividend date is Thursday, May 16th. Tesco's payout ratio is presently 5,500.00%.

Analyst Ratings Changes

Separately, Shore Capital restated a "buy" rating on shares of Tesco in a research note on Wednesday.

Tesco Price Performance

The firm has a market capitalization of £20.91 billion, a P/E ratio of 1,513.00, a price-to-earnings-growth ratio of 3.35 and a beta of 0.52. The company has a debt-to-equity ratio of 129.69, a quick ratio of 0.60 and a current ratio of 0.74. The business has a 50 day simple moving average of GBX 285.32 and a two-hundred day simple moving average of GBX 283.84.

Insiders Place Their Bets

In other news, insider Dame Carolyn Fairbairn acquired 35,000 shares of the business's stock in a transaction dated Monday, January 15th. The stock was purchased at an average cost of GBX 300 ($3.80) per share, for a total transaction of £105,000 ($132,894.57). Insiders have acquired 35,144 shares of company stock worth $10,541,403 in the last ninety days. 2.06% of the stock is currently owned by insiders.

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.