Tesco PLC (LON:TSCO – Get Free Report) shares traded down 8.7% on Saturday . The company traded as low as GBX 337.87 ($4.37) and last traded at GBX 339.20 ($4.39). 32,628,854 shares traded 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).
Analyst Upgrades and Downgrades
A number of brokerages recently commented on TSCO. JPMorgan Chase & Co. dropped their price target 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 note on Monday, January 13th. Shore Capital restated a “buy” rating on shares of Tesco in a research note on Tuesday, December 10th.
Read Our Latest Research Report on Tesco
Tesco Stock Down 8.7 %
Insider Buying and Selling
In related news, insider Gerard Murphy purchased 40,000 shares of the firm’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 90 days, insiders have bought 40,073 shares of company stock valued at $14,867,657. Company insiders own 2.51% of the company’s stock.
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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