Tesco PLC (LON:TSCO – Get Free Report) shares were down 8.7% during trading on Saturday . The company traded as low as GBX 337.87 ($4.37) and last traded at GBX 339.20 ($4.38). Approximately 32,628,854 shares traded 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 ($4.80).
Analysts Set New Price Targets
Several equities analysts have recently issued reports on TSCO shares. JPMorgan Chase & Co. reduced their target price on Tesco from GBX 410 ($5.30) to GBX 400 ($5.17) and set an “overweight” rating for the company in a report on Monday, January 13th. Shore Capital reaffirmed a “buy” rating on shares of Tesco in a report on Tuesday, December 10th.
Check Out Our Latest Stock Report on TSCO
Tesco Trading Down 8.7 %
Insider Activity
In other news, insider Gerard Murphy acquired 40,000 shares of Tesco stock in a transaction on Wednesday, January 29th. The stock was acquired at an average cost of GBX 371 ($4.80) per share, with a total value of £148,400 ($191,830.40). Insiders acquired a total of 40,073 shares of company stock valued at $14,867,657 over 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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