Tesco PLC (LON:TSCO – Get Free Report) was down 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). Approximately 32,628,854 shares changed hands during trading, an increase of 86% from the average daily volume of 17,553,332 shares. The stock had previously closed at GBX 371.50 ($4.81).
Wall Street Analyst Weigh In
Several analysts recently issued reports on TSCO shares. JPMorgan Chase & Co. dropped their price objective on shares of Tesco from GBX 410 ($5.30) to GBX 400 ($5.17) and set an “overweight” rating for the company in a research note on Monday, January 13th. Shore Capital reaffirmed a “buy” rating on shares of Tesco in a research note on Tuesday, December 10th.
Check Out Our Latest Stock Analysis on TSCO
Tesco Price Performance
Insiders Place Their Bets
In other news, insider Gerard Murphy acquired 40,000 shares of Tesco stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average cost of GBX 371 ($4.80) per share, for a total transaction of £148,400 ($191,954.47). Insiders have acquired a total of 40,073 shares of company stock worth $14,867,657 in the last ninety days. 2.51% of the stock is owned by corporate insiders.
About Tesco
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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