Tesco (TSCO) Receives “Overweight” Rating from JPMorgan Chase & Co.


JPMorgan Chase & Co. reissued their overweight rating on shares of Tesco (LON:TSCO) in a report published on Monday morning.

Other equities analysts also recently issued reports about the company. Citigroup raised their price target on Tesco from GBX 230 ($3.06) to GBX 290 ($3.86) and gave the company a buy rating in a report on Monday, May 21st. Berenberg Bank raised their price target on Tesco from GBX 255 ($3.40) to GBX 265 ($3.53) and gave the company a buy rating in a report on Thursday, April 12th. Shore Capital restated a buy rating on shares of Tesco in a report on Wednesday, April 11th. Goldman Sachs Group restated a buy rating and set a GBX 220 ($2.93) price target on shares of Tesco in a report on Friday, April 6th. Finally, Deutsche Bank reduced their price target on Tesco from GBX 240 ($3.20) to GBX 220 ($2.93) and set a buy rating for the company in a report on Friday, April 6th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Tesco has an average rating of Buy and an average price target of GBX 242.75 ($3.23).


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Shares of Tesco opened at GBX 256.11 ($3.41) on Monday, MarketBeat.com reports. Tesco has a 1-year low of GBX 165.35 ($2.20) and a 1-year high of GBX 217.31 ($2.89).

The firm also recently disclosed a dividend, which will be paid on Friday, June 22nd. Investors of record on Thursday, May 17th will be given a dividend of GBX 2 ($0.03) per share. The ex-dividend date of this dividend is Thursday, May 17th. This is a boost from Tesco’s previous dividend of $1.00. This represents a dividend yield of 0.89%.


In other news, insider Lindsey Pownall bought 50,000 shares of the company’s stock in a transaction on Wednesday, May 23rd. The shares were acquired at an average cost of GBX 246 ($3.28) per share, with a total value of 拢123,000 ($163,759.82). Also, insider Alison Platt bought 6,317 shares of the company’s stock in a transaction on Wednesday, May 2nd. The stock was purchased at an average cost of GBX 236 ($3.14) per share, for a total transaction of 拢14,908.12 ($19,848.38). Insiders have purchased 56,427 shares of company stock worth $13,818,358 over the last ninety days.


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.

Analyst Recommendations for Tesco (LON:TSCO)

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