Tesco PLC (LON:TSCO – Get Free Report)’s stock price fell 8.7% during mid-day trading on Saturday . The company traded as low as GBX 337.87 ($4.37) and last traded at GBX 339.20 ($4.38). 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 ($4.80).
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on TSCO. JPMorgan Chase & Co. dropped their price objective on 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 reaffirmed a “buy” rating on shares of Tesco in a research note on Tuesday, December 10th.
Get Our Latest Stock Report on Tesco
Tesco Trading Down 8.7 %
Insider Buying and Selling
In related news, insider Gerard Murphy acquired 40,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was purchased at an average cost of GBX 371 ($4.80) per share, with a total value of £148,400 ($191,830.40). In the last three months, insiders have bought 40,073 shares of company stock valued at $14,867,657. 2.51% of the stock is owned by company 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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