Shares of Tesco PLC (LON:TSCO – Get Free Report) traded down 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). 32,628,854 shares were traded during 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).
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Shore Capital reissued a “buy” rating on shares of Tesco in a report on Tuesday, December 10th. JPMorgan Chase & Co. lowered 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.
Get Our Latest Stock Analysis on TSCO
Tesco Price Performance
Insider Activity
In related news, insider Gerard Murphy bought 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was bought at an average cost of GBX 371 ($4.80) per share, for a total transaction of £148,400 ($191,954.47). Insiders bought 40,073 shares of company stock worth $14,867,657 in the last three months. Corporate insiders own 2.51% of the company’s stock.
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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