Tesco (LON:TSCO) Hits New 12-Month Low - Here's What Happened

Tesco PLC (LON:TSCO) experienced a significant drop, setting a new 52-week low on Friday. The stock dipped to GBX 75.20 ($0.97) before closing last at GBX 370.90 ($4.80). A notable volume of 121,815,797 shares changed hands during the trading day, showing heightened activity around the stock.

Wall Street Analyst Insights

Several analysts have weighed in on Tesco shares recently. For instance, Shore Capital reaffirmed its "buy" rating on Tesco shares in a report released on December 10th. Additionally, JPMorgan Chase & Co. adjusted their price target for Tesco from GBX 410 ($5.31) down to GBX 400 ($5.18) while maintaining an "overweight" rating in a research note published on January 13th.

Current Stock Performance

The latest performance metrics show Tesco's stock is down by 0.2%. The company has a fifty-day simple moving average of GBX 371.04 and a 200-day moving average of GBX 363.22. Currently, Tesco has a market capitalization of £24.75 billion, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 1.43, and a beta of 0.51. Its quick ratio stands at 0.60, while the current ratio is 0.81, and the debt-to-equity ratio is quite high at 126.35.

Insider Transactions

In related news regarding insider activity, Gerard Murphy, an insider, purchased 40,000 shares of Tesco on January 29th at an average price of GBX 371 ($4.81) per share. This acquisition amounted to a total transaction of £148,400 ($192,227.98). Over the past three months, insiders have acquired a total of 40,073 shares, valued at approximately $14,867,657. Notably, company insiders now own 2.51% of Tesco's total stock.

About Tesco

Tesco is dedicated to being a customer-centric company, providing affordable, healthy, and sustainable food every day. Their commitment extends beyond stores, positively impacting communities in the UK, Republic of Ireland, Slovakia, Czech Republic, and Hungary. Tesco invests in community causes such as schools, children's groups, and food banks to support and enhance community well-being. Their mission has guided the company's strategy in challenging times.

Conclusion

For those considering investment in Tesco, it is essential to be informed about the current market dynamics, as a recent report suggests that while Tesco has a "buy" rating, there are other stocks recommended by top analysts that are viewed as stronger investment opportunities.

Tesco, Stock, Low