Tesco PLC (LON:TSCO – Get Free Report)’s share price fell 8.7% on Saturday . The company traded as low as GBX 337.87 ($4.37) and last traded at GBX 339.20 ($4.38). 32,628,854 shares were traded during mid-day trading, an increase of 86% from the average session volume of 17,553,332 shares. The stock had previously closed at GBX 371.50 ($4.80).
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on TSCO. JPMorgan Chase & Co. reduced their price objective 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. Shore Capital reiterated a “buy” rating on shares of Tesco in a research report on Tuesday, December 10th.
Get Our Latest Stock Analysis on TSCO
Tesco Price Performance
Insider Transactions at Tesco
In related news, insider Gerard Murphy acquired 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average cost of GBX 371 ($4.80) per share, for a total transaction of £148,400 ($191,830.40). Insiders have acquired 40,073 shares of company stock worth $14,867,657 in the last ninety days. 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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