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It's Tesco who need to buy some!
There's a time limit to the buyback and it's ground to a halt.
I foresee the SP being manipulated downward to enable a resumption.
....and get this above 300 to close the week please?!
X-Div on 16th May so not selling any until that date when we could be 320/330p.
Thankfully I did not sell my majority after hitting 300. Now we sit and wait! Good luck
Jefferies target.
No shares bought back at all yesterday?
FB Technically the tea leaves look favourable painting a cub with a handle on the weekly indicating a possible breakout if the price can keep momentum above 304 on a weekly close 1st target a measured move of circa 23 points towards the 320s the consensus target remains 331 longer-term GLA
Hopefully so.
Is the stay above 300p going to be sustained a little longer this time?
Still struggling with this. 100 shares bought at 288 yesterday which was the price bang on the morning bell. Hopefully the price will settle down and they can actually start buying in earnest.
For TESCO buyback. SP i,e.
Once the average market price over the previous X days has settled, then a bit more daily buying should commence
Fb
''This share buyback is going to take a LONG time !''
I believe the programme can last as long as April 2025
The delay in the update seems odd. Maybe someone overlooked it, or they're just dragging their feet. Curiouser and curiouser....
This share buyback is going to take a LONG time !
Stimied by rising price based on LTI comment.
The shares were bought very near to the open - the continued upward movement in share price most likely kicked in buyback pricing rules, preventing further purchases.
Good point.
So the buying pressure will increase over the coming weeks.
Wow. Did someone nod off at their desk for most of the day? The one thing it does show is that rise yesterday was completely driven by the market though as opposed to by tsco buying it's own shares. Fair play on that front FB.
Cracking start to the buyback yesterday !!
🤦
E04
''Can't understand why folk buy this''
??
the dividend yield is above the ftse average, and is more than twice covered by earnings. In addition, share buybacks for cancellation would help with any progression of the dividends paid per share.
I don't disagree, but at today's SP they're spending £1bn to take ~350m shares off the table over the course of a full year. I understand this will leave less slices of the pie on the market and pay dividends on but it just feels like a long winded way of achieving a SP gain.
Owl
"That being said it baffles me as to why they don't just plough this money into divs, 7bn shares for a company with the mcap of Tesco isn't exactly in confetti territory. That would drive the SP up dramatically."
The sp is up over 3% today simply on the commencement of a buyback that everyone knew about anyway.
That is pretty dramatic and silly dividends weren't required to shift it.
Yes, I'm aware this share drops in big chunks too but a business with Tesco's current market cap, a £1, billion buyback is huge ! Higher dividends will follow !
Can't understand why people with no shares in Tesco, spend time commenting on the share.
It suggests there's not much going on in their life.
Eccles - I think because it's viewed as a steady, stable defensive share that isn't as prone to fluctuations in it's market (ie miners, oilies) or regulatory issues (tobacco, gambling etc).
That being said it baffles me as to why they don't just plough this money into divs, 7bn shares for a company with the mcap of Tesco isn't exactly in confetti territory. That would drive the SP up dramatically.
Can't understand why folk buy this with a crap dividend and a crap PE.