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

Tesco PLC (LON:TSCO) shares dropped 8.7% during mid-day trading 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 traded hands during mid-day 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

TSCO has been the subject of a number of research analyst reports. 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 restated a “buy” rating on shares of Tesco in a report on Tuesday, December 10th.

Tesco Trading Down 8.7 %

The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 126.35. The company has a market cap of £22.64 billion, a PE ratio of 17.75, a P/E/G ratio of 1.43 and a beta of 0.51. The business’s 50-day simple moving average is GBX 370.38 and its 200-day simple moving average is GBX 363.38.

Insiders Place Their Bets

In other Tesco news, insider Gerard Murphy acquired 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were purchased at an average price of GBX 371 ($4.80) per share, with a total value of £148,400 ($191,954.47). Insiders purchased a total of 40,073 shares of company stock worth $14,867,657 in the last quarter. 2.51% of the stock is currently 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.