Reckitt Benckiser Executes Share Buyback to Optimize Capital Structure

The latest update is out from Reckitt ( (GB:RKT) ).

Reckitt Benckiser Group PLC announced the repurchase of 75,000 of its ordinary shares, which will be held in treasury. This move, executed through HSBC Bank plc, is part of the authority granted by shareholders at the company’s Annual General Meeting in May 2024. The repurchase reflects the company’s ongoing strategy to manage its capital structure and potentially enhance shareholder value. Following this transaction, Reckitt holds over 56 million shares in treasury, with a total of 680,194,730 ordinary shares in issue, impacting the voting rights and shareholder notifications under the FCA’s rules.

The most recent analyst rating on (GB:RKT) stock is a Buy with a £51.00 price target. To see the full list of analyst forecasts on Reckitt stock, see the GB:RKT Stock Forecast page.

Spark’s Take on GB:RKT Stock

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

Reckitt’s overall stock score is driven by solid financial performance and positive earnings call sentiment, underscored by strategic corporate events. While technical indicators show positive momentum, the stock’s valuation and revenue growth concerns slightly temper the outlook.

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

More about Reckitt

Reckitt Benckiser Group PLC is a global consumer goods company operating in the health, hygiene, and home sectors. The company is known for its diverse range of products, including well-known brands in household cleaning, personal care, and over-the-counter pharmaceuticals.

Average Trading Volume: 1,598,236

Technical Sentiment Signal: Buy

Current Market Cap: £34.75B

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