Tesco PLC Advances Share Buyback Program with Latest Purchase

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

Tesco PLC has announced the purchase of 2,902,000 ordinary shares as part of its ongoing £700 million share buyback program, with the shares being cancelled. This transaction, conducted on the London Stock Exchange, reflects Tesco’s commitment to returning value to shareholders and optimizing its capital structure, with the total shares purchased since April amounting to 131,620,515, valued at over £494 million.

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 positive technical indicators are the most significant contributors to its stock score. While the valuation appears reasonable, the absence of recent earnings call data limits insights into management’s guidance and sentiment.

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 based in the United Kingdom. The company operates in the retail industry, offering a wide range of products including food, clothing, electronics, and financial services, with a significant market presence in the UK and other countries.

Average Trading Volume: 23,957,605

Technical Sentiment Signal: Buy

Current Market Cap: £25.9B

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