Tesco (LON:TSCO) Shares Down 8.7% - Here's What Happened

Shares of Tesco PLC (LON:TSCO - Get Free Report) were down 8.7% during mid-day trading on Saturday . The company traded as low as GBX 337.87 ($4.39) and last traded at GBX 339.20 ($4.41). 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 ($4.83).

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TSCO shares. Shore Capital reiterated a "buy" rating on shares of Tesco in a research note on Tuesday, December 10th. JPMorgan Chase & Co. dropped their price objective on shares of Tesco from GBX 410 ($5.33) to GBX 400 ($5.20) and set an "overweight" rating for the company in a report on Monday, January 13th.

Tesco Trading Down 1.5 %

The firm has a market capitalization of £21.44 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The stock's 50-day moving average price is GBX 368.55 and its 200 day moving average price is GBX 363.06. The company has a debt-to-equity ratio of 126.35, a current ratio of 0.81 and a quick ratio of 0.60.

Insider Activity at Tesco

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 bought at an average cost of GBX 371 ($4.82) per share, with a total value of £148,400 ($192,927.72). Insiders have acquired a total of 40,110 shares of company stock valued at $14,881,384 over the last ninety days. 2.51% of the stock is owned by company 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.