Tesco Advances £1.45 Billion Share Buyback Program

Tesco plc ( (GB:TSCO) ) has shared an announcement.

Tesco PLC announced the purchase of 4,242,764 ordinary shares as part of its £1.45 billion share buyback program, with the shares to be cancelled. This transaction reduces the total number of shares in issue to 6,438,104,006, impacting shareholder calculations under the Disclosure and Transparency Rules. Since the program’s commencement, Tesco has bought back 298,737,756 shares, amounting to £1,213.5 million, indicating a significant commitment to returning value to shareholders.

The most recent analyst rating on (GB:TSCO) stock is a Buy with a £440.00 price target. To see the full list of analyst forecasts on Tesco plc stock, see the GB:TSCO Stock Forecast page.

Spark’s Take on GB:TSCO Stock

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

Tesco plc’s strong financial performance and positive earnings call sentiment are the most significant factors driving the score. The technical analysis supports a bullish outlook, while the valuation suggests a premium price. Overall, Tesco is well-positioned for growth, but maintaining financial discipline will be crucial.

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

More about Tesco plc

Tesco PLC is a leading multinational grocery and general merchandise retailer headquartered in the United Kingdom. It operates primarily in the retail industry, offering a wide range of products including food, clothing, electronics, and financial services. Tesco is one of the largest retailers in the world, focusing on providing quality products at competitive prices to a diverse customer base.

Average Trading Volume: 15,159,335

Technical Sentiment Signal: Buy

Current Market Cap: £28.56B

For an in-depth examination of TSCO stock, go to TipRanks’ Overview page.