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

Tesco PLC (LON:TSCO) dropped 8.7% during trading on Saturday . The stock traded as low as GBX 337.87 ($4.37) and last traded at GBX 339.20 ($4.39). Approximately 32,628,854 shares were traded during 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).

Analysts Set New Price Targets

TSCO has been the subject of several research reports. Shore Capital restated a “buy” rating on shares of Tesco in a research note on Tuesday, December 10th. JPMorgan Chase & Co. decreased their target price on shares of Tesco from GBX 410 ($5.30) to GBX 400 ($5.17) and set an “overweight” rating for the company in a research note on Monday, January 13th.

Tesco Stock Performance

The company has a market cap of £22.64 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The firm’s fifty day moving average is GBX 370.38 and its 200 day moving average is GBX 363.22. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 126.35.

Insider Transactions at Tesco

In other news, insider Gerard Murphy acquired 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was purchased at an average price of GBX 371 ($4.80) per share, with a total value of £148,400 ($191,954.47). Insiders acquired 40,073 shares of company stock valued at $14,867,657 over the last 90 days. 2.51% of the stock is currently owned by corporate 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.