Tesco PLC (LON:TSCO – Get Free Report)’s stock price dropped 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 ($4.39). Approximately 32,628,854 shares were traded during mid-day 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
TSCO has been the topic of a number of recent research reports. Shore Capital restated a “buy” rating on shares of Tesco in a report on Tuesday, December 10th. JPMorgan Chase & Co. reduced their target price on shares of Tesco from GBX 410 ($5.30) to GBX 400 ($5.17) and set an “overweight” rating on the stock in a report on Monday, January 13th.
Tesco Stock Performance
Insider Activity
In other news, insider Gerard Murphy acquired 40,000 shares of the stock in a transaction on Wednesday, January 29th. The stock was bought at an average price of GBX 371 ($4.80) per share, with a total value of £148,400 ($191,954.47). Insiders purchased a total of 40,073 shares of company stock valued at $14,867,657 in the last 90 days. 2.51% of the stock is currently owned by 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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