Tesco (LON:TSCO) Stock Price Down 8.7% – Here’s What Happened

Tesco PLC (LON:TSCO)’s share price traded down 8.7% during trading on Saturday . The stock traded as low as GBX 337.87 ($4.37) and last traded at GBX 339.20 ($4.38). 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 ($4.80).

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. decreased 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. Shore Capital reiterated a “buy” rating on shares of Tesco in a research report on Tuesday, December 10th.

Tesco Stock Down 8.7 %

The stock has a market cap of £22.64 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 1.43 and a beta of 0.51. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 126.35. The firm’s 50 day moving average is GBX 370.38 and its two-hundred day moving average is GBX 363.50.

Insider Transactions at Tesco

In other news, insider Gerard Murphy bought 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were purchased at an average price of GBX 371 ($4.80) per share, for a total transaction of £148,400 ($191,830.40). Insiders bought a total of 40,073 shares of company stock worth $14,867,657 over the last ninety days. 2.51% of the stock is currently owned by corporate 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.