Sainsbury (J) (SBRY)

Sector:

Food Pharmacy Retail

Index:

FTSE 100

266.20p
   
  • Change Today:
      1.80p
  • 52 Week High: 310.40
  • 52 Week Low: 245.80
  • Currency: UK Pounds
  • Shares Issued: 2,357.27m
  • Volume: 10,960,542
  • Market Cap: £6,275m
  • RiskGrade: 132

HSBC upgrades Sainsbury's to 'buy'

By Michele Maatouk

Date: Tuesday 06 Feb 2024

LONDON (ShareCast) - (Sharecast News) - HSBC upgraded Sainsbury's to 'buy' from 'hold' on Tuesday and lifted the price target to 310p from 300p as it took a look at European food retail.
The bank noted that Sainsbury's has been gaining top line momentum, having disinflated prices ahead of the market.

It said the launch of the Nectar loyalty programme was a success, and combined with Sainsbury's relative competitive advantage in scale versus the other Big 4 retailers, Asda and Morrison, it should allow Sainsbury to continue to drive above market growth.

At the retailer's capital markets day on Wednesday, HSBC expects productivity measures to be a key area of focus.

"We also expect the group to focus on building on its Food first strategy outlined three years ago, with an increased focus on innovation and a growing share of own-label, as well as refreshing its outlook for Argos and General Merchandise including clothing against the backdrop of an anticipated, cyclical recovery in non-food consumption trend," it said.

"The announcement of a share buyback would be the cherry on the cake, but is not required to support our upgrade to buy given the pull back of the shares on the absence of a Q3 profit upgrade, a function of slower peak discretionary sales/tough comps."

HSBC said its top picks are Carrefour, Tesco and Sainsbury, all rated 'buy'. Its least preferred stocks are Ahold Delhaize and Metro - both of which it downgraded to 'reduce' from 'hold' - and Colruyt and Ocado, rated 'reduce', "as they either struggle with internal issues, have negative momentum or their business model is at risk".

At 1535 GMT, Sainsbury's shares were up 0.9% at 274.90p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Sainsbury Market Data

Currency UK Pounds
Share Price 266.20p
Change Today 1.80p
% Change 0.68 %
52 Week High 310.40
52 Week Low 245.80
Volume 10,960,542
Shares Issued 2,357.27m
Market Cap £6,275m
RiskGrade 132

Sainsbury Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
78.28% above the market average78.28% above the market average78.28% above the market average78.28% above the market average78.28% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
42.00% above the market average42.00% above the market average42.00% above the market average42.00% above the market average42.00% above the market average
63.64% above the sector average63.64% above the sector average63.64% above the sector average63.64% above the sector average63.64% above the sector average
Income
50.47% above the market average50.47% above the market average50.47% above the market average50.47% above the market average50.47% above the market average
55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average
Growth
77% below the market average77% below the market average77% below the market average77% below the market average77% below the market average
83.33% below the sector average83.33% below the sector average83.33% below the sector average83.33% below the sector average83.33% below the sector average

What The Brokers Say

Strong Buy 3
Buy 4
Neutral 3
Sell 1
Strong Sell 0
Total 11
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Sainsbury Dividends

  Latest Previous
  Final Interim
Ex-Div 06-Jun-24 09-Nov-23
Paid 12-Jul-24 15-Dec-23
Amount 9.20p 3.90p

Trades for 31-Oct-2024

Time Volume / Share Price
17:33 815,110 @ 262.70p
17:33 1,183,057 @ 262.70p
17:33 113,852 @ 262.70p
17:33 1,173,793 @ 262.70p
16:39 2,928 @ 266.20p

Sainsbury Key Personnel

Chair Martin Scicluna
CEO Simon Roberts
CFO Bl á thnaid Bergin

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