Shares in Tesco (LON:TSCO) have been little changed in London this morning following the latest Kantar Worldpanel data which showed that the grocer’s sales had climbed one percent in the 12 weeks to January 27. The blue-chip grocer, however, lost market share during the reported period.
As of 10:26 GMT, Tesco’s share price had added 0.26 percent to 222.08p, underperforming the broader market rally which has seen the benchmark FTSE 100 index gain 1.12 percent to 7,113.19 points so far today. The group’s shares have added more than 11 percent to their value over the past year, as compared with about a 5.5-percent fall in the Footsie.
Latest Kantar data
Kantar Worldpanel announced in a statement this morning that the latest grocery market figures had showed that the sector had grown 1.7 percent in the 12 weeks to January 27. At Tesco, sales rose one percent during the reported period, marking the supermarket’s fastest rate of growth since September 2018. Kantar said that the grocer’s fresh food lines had performed particularly strongly, with total sales reaching £130 million. Tesco’s market share, however, slipped 0.2 percentage points year-on-year to 27.7 percent.
Today’s numbers come after Britain’s biggest supermarket updated investors on its performance last month, posting a rise in sales for the third quarter as well as for the crucial Christmas period.
Analysts on Tesco
The 14 analysts offering 12-month price targets for Tesco for the Financial Times have a median target of 270.00p on the shares, with a high estimate of 300.00p and a low estimate of 200.00p. As of February 2, the consensus forecast amongst 20 polled investment analysts covering the blue-chip grocer has it that the company will outperform the market.
As of 10:48 GMT, Tuesday, 05 February, Tesco PLC share price is 222.08p.