Tesco (LON:TSCO) Earns “Overweight” Rating from Barclays

Barclays reissued their overweight rating on shares of Tesco (LON:TSCO) in a research report report published on Thursday, September 20th.

Several other equities research analysts also recently commented on the stock. HSBC reissued a buy rating on shares of Tesco in a research report on Monday, August 13th. Jefferies Financial Group boosted their target price on shares of Tesco from GBX 260 ($3.40) to GBX 280 ($3.66) and gave the stock a buy rating in a research report on Tuesday, September 18th. Shore Capital reissued a buy rating on shares of Tesco in a research report on Monday, July 23rd. Berenberg Bank reissued a buy rating and set a GBX 295 ($3.85) target price on shares of Tesco in a research report on Monday, September 17th. Finally, Citigroup reaffirmed a buy rating on shares of Tesco in a research report on Wednesday, June 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. Tesco currently has an average rating of Buy and a consensus price target of GBX 268 ($3.50).

TSCO stock traded down GBX 1.40 ($0.02) during midday trading on Thursday, hitting GBX 216.90 ($2.83). The stock had a trading volume of 60,037,089 shares, compared to its average volume of 45,150,000. Tesco has a 1-year low of GBX 165.35 ($2.16) and a 1-year high of GBX 217.31 ($2.84).

The business also recently announced a dividend, which will be paid on Friday, November 23rd. Stockholders of record on Thursday, October 11th will be given a dividend of GBX 1.67 ($0.02) per share. This represents a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, October 11th.

In related news, insider Alan Stewart bought 50,000 shares of Tesco stock in a transaction dated Friday, October 5th. The stock was purchased at an average cost of GBX 214 ($2.80) per share, with a total value of £107,000 ($139,814.45). Insiders have bought a total of 50,110 shares of company stock valued at $10,727,584 over the last three months.

About Tesco

Tesco PLC, together with its subsidiaries, operates as a grocery retailer. The company also provides retail banking and insurance services. It has operations in the United Kingdom, Ireland, the Czech Republic, Hungary, Poland, Slovakia, Malaysia, Thailand, and internationally. The company serves its customers through 6,809 stores, as well as online.

Read More: Price to Earnings Ratio (PE)

Analyst Recommendations for Tesco (LON:TSCO)

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