Tesco PLC (LON:TSCO – Get Free Report)’s share price dropped 8.7% during trading on Friday . The company traded as low as GBX 337.87 ($4.38) and last traded at GBX 339.20 ($4.39). 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 ($4.81).
Wall Street Analysts Forecast Growth
A number of research firms recently commented on TSCO. Shore Capital reaffirmed a “buy” rating on shares of Tesco in a research note on Tuesday, December 10th. JPMorgan Chase & Co. dropped their target price on shares of Tesco from GBX 410 ($5.31) to GBX 400 ($5.18) and set an “overweight” rating for the company in a research report on Monday, January 13th.
Tesco Price Performance
Insider Activity at Tesco
In other news, insider Gerard Murphy acquired 40,000 shares of Tesco stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average price of GBX 371 ($4.81) per share, for a total transaction of £148,400 ($192,227.98). Insiders purchased a total of 40,073 shares of company stock valued at $14,867,657 in the last quarter. Insiders own 2.51% of the company’s stock.
Tesco Company Profile
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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