BlackRock Reduces Stake in Tate & Lyle Below 5%

Tate & Lyle ( (GB:TATE) ) just unveiled an announcement.

Tate & Lyle PLC, a UK-based company, has announced a change in the voting rights held by BlackRock, Inc., an American multinational investment management corporation. BlackRock’s voting rights in Tate & Lyle have fallen below 5%, indicating a reduction in their stake in the company. This adjustment in BlackRock’s holdings may impact Tate & Lyle’s shareholder dynamics and influence within the market.

The most recent analyst rating on (GB:TATE) stock is a Hold with a £7.25 price target. To see the full list of analyst forecasts on Tate & Lyle stock, see the GB:TATE Stock Forecast page.

Spark’s Take on GB:TATE Stock

According to Spark, TipRanks’ AI Analyst, GB:TATE is a Outperform.

Tate & Lyle scores well due to its strong financial health, solid valuation, and positive corporate events, reflecting confidence in future prospects. However, declining revenue and mixed technical indicators suggest caution in the near term. The successful integration of CP Kelco and strategic initiatives further enhance its outlook.

To see Spark’s full report on GB:TATE stock, click here.

More about Tate & Lyle

Average Trading Volume: 1,124,265

Technical Sentiment Signal: Sell

Current Market Cap: £2.4B

Learn more about TATE stock on TipRanks’ Stock Analysis page.