Shares of Tesco PLC (LON:TSCO – Get Free Report) traded 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). 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).
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on 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. Shore Capital restated a “buy” rating on shares of Tesco in a research report on Tuesday, December 10th.
Check Out Our Latest Report on Tesco
Tesco Price Performance
Insider Transactions at Tesco
In other news, insider Gerard Murphy purchased 40,000 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average price of GBX 371 ($4.80) per share, with a total value of £148,400 ($191,954.47). Insiders have bought 40,073 shares of company stock valued at $14,867,657 in the last quarter. 2.51% of the stock is currently 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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