Sainsbury's commercial director Michael Coupe has taken a big chunk of shares ahead of the supermarket operator's trading statement tomorrow.
He took 8,621 shares at 390.53 a time, spending nearly £34,000, and now has 798,285.
News of the purchase, which was made last week, comes as data from market research group Kantar Worldpanel shows that Sainsbury's upped its market share in the grocery trade to 16.6% in the 12 weeks to 26 December from 16.3% in the same period the previous year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Morrisons set the benchmark for the supermarket sector on Monday with a better than expected 1% growth in like for like (LFL) sales, excluding petrol and VAT, in the six weeks to 2 January. With fuel included LFL sales were up 4%.
Deutsche Bank thinks Sainsbury's numbers will "compare favourably against the shorter-term six-week trading numbers issued by Wm Morrison and Tesco," due in part to the chain's strength in areas not overly affected by the recent spell of bad weather.
Coupe, who was appointed in July, is responsible for J Sainsbury's trading, marketing, IT and online operations. He has previously worked for rival supermarkets ASDA and Tesco.
Top Director Buys
Sainsbury (J) (SBRY) Director name: Mr Michael Andrew CoupeAmount purchased: 8,621 @ 390.53p Value: £33,668
Top Director Sells
IFG Group (IFP) Director name: Mr Mark BogardAmount sold: 500,000 @ 105.88p Value: £529,400
Immunodiagnostic Systems Holdings (IDH) Director name: Mr Paul HailesAmount sold: 15,000 @ 940.00p Value: £141,000
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
