Tesco PLC (LON:TSCO – Get Free Report) dropped 8.7% 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 changed hands 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).
Analyst Ratings Changes
A number of brokerages have issued reports on TSCO. Shore Capital reiterated a “buy” rating on shares of Tesco in a research note on Tuesday, December 10th. JPMorgan Chase & Co. cut their price target 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.
Read Our Latest Stock Analysis on Tesco
Tesco Stock Performance
Insider Transactions at Tesco
In related news, insider Gerard Murphy acquired 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 have acquired 40,073 shares of company stock worth $14,867,657 in the last quarter. 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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