Tesco (OTCMKTS:TSCDY) Shares Up 1% - Still a Buy?

Key Points

• Tesco PLC shares increased by 1% to a price of $16.67 during mid-day trading, despite a decline of 47% in trading volume.
• Morgan Stanley has restated an "overweight" rating on the stock, which currently holds an average rating of "Buy" from research analysts.
• Tesco announced a significant increase in its dividend to $0.3636 per share, up from its previous amount of $0.17, resulting in a high dividend yield of 344.0%.

Tesco PLC (OTCMKTS:TSCDY - Get Free Report)'s share price shot up 1% during mid-day trading on Monday . The company traded as high as $16.68 and last traded at $16.67. 107,062 shares changed hands during trading, a decline of 47% from the average session volume of 200,547 shares. The stock had previously closed at $16.50.

Analyst Ratings Changes

Separately, Morgan Stanley restated an "overweight" rating on shares of Tesco in a report on Tuesday, June 3rd. One research analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy".

Tesco Trading Up 1.0%

The business has a fifty day simple moving average of $16.64 and a 200-day simple moving average of $15.12. The company has a current ratio of 0.64, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44.

Tesco Increases Dividend

The company also recently announced a dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, May 19th were given a dividend of $0.3636 per share. The ex-dividend date of this dividend was Friday, May 16th. This is a positive change from Tesco's previous dividend of $0.17. This represents a dividend yield of 344.0%.

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.

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