Shares of Tesco PLC (LON:TSCO – Get Free Report) traded down 8.7% on Friday . 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 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).
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Shore Capital reiterated a “buy” rating on shares of Tesco in a report on Tuesday, December 10th. JPMorgan Chase & Co. cut 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 report on Monday, January 13th.
Get Our Latest Stock Analysis on Tesco
Tesco Price Performance
Insider Activity at Tesco
In other news, insider Gerard Murphy acquired 40,000 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were bought at an average price of GBX 371 ($4.80) per share, for a total transaction of £148,400 ($191,954.47). Over the last quarter, insiders have acquired 40,073 shares of company stock worth $14,867,657. Company 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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