Tesco PLC (LON:TSCO – Get Free Report)’s share price fell 8.7% during mid-day trading on Saturday . The stock traded as low as GBX 337.87 ($4.37) and last traded at GBX 339.20 ($4.39). 32,628,854 shares changed hands during mid-day trading, an increase of 86% from the average session volume of 17,553,332 shares. The stock had previously closed at GBX 371.50 ($4.81).
Wall Street Analyst Weigh In
Several brokerages recently issued reports on TSCO. Shore Capital reiterated a “buy” rating on shares of Tesco in a research note on Tuesday, December 10th. JPMorgan Chase & Co. cut their price objective on shares of Tesco from GBX 410 ($5.30) to GBX 400 ($5.17) and set an “overweight” rating on the stock in a research report on Monday, January 13th.
Read Our Latest Stock Report on Tesco
Tesco Stock Down 8.7 %
Insider Activity at Tesco
In related news, insider Gerard Murphy purchased 40,000 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were purchased at an average price of GBX 371 ($4.80) per share, with a total value of £148,400 ($191,954.47). In the last ninety days, insiders have bought 40,073 shares of company stock valued at $14,867,657. 2.51% of the stock is owned by insiders.
Tesco Company Profile
Tesco was built to be a champion for customers, serving them every day with affordable, healthy and sustainable food. Our commitment to our customers extends beyond our stores, and into every community we serve – in the UK, Republic of Ireland, Slovakia, the Czech Republic and Hungary. We invest in communities to help them thrive, through supporting schools and children’s groups, food banks and other good causes.
In challenging times, our purpose has guided every part of the Group.
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