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Tesco plc ( (GB:TSCO) ) has issued an announcement.
Tesco PLC has announced the purchase of 1,876,763 of its own ordinary shares as part of its £1.45 billion share buyback program. The shares, purchased at an average price of 445.75 pence, will be cancelled, reducing the total number of shares in circulation to 6,402,880,740. This move is part of Tesco’s ongoing efforts to enhance shareholder value and optimize its capital structure.
The most recent analyst rating on (GB:TSCO) stock is a Buy with a £5.10 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 overall stock score reflects a stable financial performance with some challenges in revenue growth and cash flow. The technical analysis suggests a positive momentum, and the valuation is fair. The earnings call provided a positive outlook with raised profit guidance, and the significant share buyback program enhances shareholder value.
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. The company primarily operates in the retail industry, offering a wide range of products including food, clothing, electronics, and financial services, with a strong market presence in the UK and several other countries.
Average Trading Volume: 15,719,071
Technical Sentiment Signal: Buy
Current Market Cap: £28.07B
See more data about TSCO stock on TipRanks’ Stock Analysis page.