Tesco Reduces Share Count Further Under £750m Buyback

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

Tesco plc has continued executing its £750 million share buyback programme, purchasing 416,793 ordinary shares on 29 April 2026 at an average price of 479.85p per share. The shares, acquired through Citigroup Global Markets, will be cancelled as part of the capital return to shareholders.

Following this latest transaction, Tesco’s total shares in issue fall to 6,382,708,902, with no shares held in treasury. Since the buyback’s April launch, the company has repurchased 2,473,894 shares worth £12.0 million, marginally enhancing earnings per share and signalling ongoing confidence in its balance sheet and cash generation.

The most recent analyst rating on (GB:TSCO) stock is a Hold with a £460.00 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 TSCO Stock

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

The score is driven primarily by solid financial execution (improving profitability and strong recent cash generation) and an attractive valuation (low P/E with a ~3% dividend). The earnings call reinforced confidence via upgraded cash outlook and continued buybacks, while leverage, thin margins, and cost/competitive pressures keep the score from moving higher; technicals are supportive but only moderately strong.

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

More about Tesco plc

Tesco plc is a leading U.K.-based grocery and general merchandise retailer, operating supermarkets, convenience stores and online channels. The company focuses on serving mass-market consumers with food, household goods and related services across the U.K. and selected international markets.

Average Trading Volume: 17,547,923

Technical Sentiment Signal: Buy

Current Market Cap: £30.51B

See more insights into TSCO stock on TipRanks’ Stock Analysis page.