J Sainsbury plc Executes Share Buyback of Over 1 Million Shares

J Sainsbury plc ( (GB:SBRY) ) has shared an announcement.

J Sainsbury plc has announced the purchase of 1,054,000 of its ordinary shares as part of its ongoing share buyback program. The shares were bought at a volume-weighted average price of 284.4630 pence and are intended to be canceled, which may impact the company’s share value and market perception positively by reducing the number of shares outstanding.

The most recent analyst rating on (GB:SBRY) stock is a Buy with a £3.40 price target. To see the full list of analyst forecasts on J Sainsbury plc stock, see the GB:SBRY Stock Forecast page.

Spark’s Take on GB:SBRY Stock

According to Spark, TipRanks’ AI Analyst, GB:SBRY is a Outperform.

J Sainsbury plc’s overall stock score of 74 reflects its solid financial performance and strong technical indicators, bolstered by optimistic earnings call sentiment despite some challenges. The share buyback program further enhances shareholder value, indicating a well-rounded investment with both growth and income potential.

To see Spark’s full report on GB:SBRY stock, click here.

More about J Sainsbury plc

J Sainsbury plc is a prominent player in the retail industry, primarily focusing on the sale of groceries, general merchandise, and financial services. The company is known for its extensive network of supermarkets and convenience stores across the UK, catering to a wide range of consumer needs.

Average Trading Volume: 8,965,347

Technical Sentiment Signal: Strong Buy

Current Market Cap: £6.44B

Find detailed analytics on SBRY stock on TipRanks’ Stock Analysis page.