Tesco PLC Advances £700 Million Share Buyback Program

Tesco plc ( (GB:TSCO) ) has provided an update.

Tesco PLC has announced the purchase of 3,595,555 of its own ordinary shares as part of a £700 million share buyback program. This transaction, conducted on the London Stock Exchange, is part of a broader strategy to enhance shareholder value by reducing the number of shares in circulation, which now stands at 6,641,228,380. The move reflects Tesco’s ongoing commitment to returning capital to shareholders and may impact the company’s market positioning by potentially increasing earnings per share.

The most recent analyst rating on (GB:TSCO) stock is a Buy with a £3.75 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’s strong financial performance and strategic share buyback program contribute significantly to the stock’s attractiveness. Technical analysis shows an upward trend, albeit with some caution due to overbought signals. Valuation metrics are reasonable, providing a balanced outlook for investors.

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 operates a chain of supermarkets and hypermarkets, focusing on providing a wide range of food and non-food products to consumers across various markets.

Average Trading Volume: 25,693,592

Technical Sentiment Signal: Buy

Current Market Cap: £25.64B

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