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Tesco plc ( (GB:TSCO) ) just unveiled an announcement.
Tesco PLC announced the purchase of 1,537,760 of its own ordinary shares at an average price of 401.75 pence per share, as part of its £700 million share buyback program. This transaction, which follows the authority granted by shareholders, aims to reduce the number of shares in circulation, potentially increasing the value of remaining shares and demonstrating confidence in the company’s financial health.
The most recent analyst rating on (GB:TSCO) stock is a Buy with a £410.00 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’s strong financial performance and strategic share buyback program are the primary drivers of its high score. Positive technical indicators further support the stock’s favorable outlook. The unusually high dividend yield suggests a need for cautious interpretation of valuation metrics.
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, primarily operating in the United Kingdom. The company offers a wide range of products including food, clothing, electronics, and financial services, focusing on providing value and quality to its customers.
Average Trading Volume: 21,738,855
Technical Sentiment Signal: Buy
Current Market Cap: £26.14B
For detailed information about TSCO stock, go to TipRanks’ Stock Analysis page.