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

Tesco PLC (LON:TSCO) shares traded down 8.7% during mid-day trading on Saturday . The stock traded as low as GBX 337.87 ($4.37) and last traded at GBX 339.20 ($4.39). 32,628,854 shares were traded during trading, an increase of 86% from the average session volume of 17,553,332 shares. The stock had previously closed at GBX 371.50 ($4.81).

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced 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 research report on Monday, January 13th. Shore Capital reissued a “buy” rating on shares of Tesco in a research report on Tuesday, December 10th.

Tesco Trading Down 8.7 %

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

Insider Activity at Tesco

In related news, insider Gerard Murphy purchased 40,000 shares of the company’s stock in a transaction 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 ($191,954.47). Insiders have bought a total of 40,073 shares of company stock valued at $14,867,657 over the last 90 days. 2.51% of the stock is owned by corporate insiders.

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.