i dont hold it as an indivdual stock but FYI one of the funds i like does hold it and in their 2023 annual report released early this year they said the following about Tesco.

Tesco returned +35% in 2023. Principally this was a much overdue reflection of the improved quality of the business, as the turnaround is complete, and the business is back on its throne as market leader. Compounding this strength, is the continued weakness of the competition. Most notably Asda and Morrisons are struggling under the debt burdens of their private equity buyouts, and do not have the financial flexibility to invest or fight for competitiveness by lowering prices.3 Indeed, for the first time in many years Tesco has been underinflating the market, thus compounding its position as the best value for money. This reinvestment of potential profits in lower prices creates a strong fly wheel effect, driving more customers into the stores, and higher volumes. Their market share, which had been falling for a decade, has seen a strong recovery in the past two years, which we believe is likely to continue as Asda and Morrisons cede share. Given the high fixed cost nature of the supermarket business, it’s critical to see sales densities and asset utilisation moving higher, and this has a geared impact on future returns. Other points to note are the likely sale of Tesco Bank, which should raise c.£1bn which we expect to be used to buy back shares in the company, complimenting the 4% dividend yield. At 12x PE (compared to international peers such as Walmart which trade on 24x) the stock remains an undiscovered jewel in the FTSE’s crown.

So are they fully valued or undervalued based on to-days info which all Global Investors know...Presume they are all in and who will buy them now after a 27% rise.

Yes but lets test this. I've mentioned Action in the PE thread and news that the lower earning consumer is struggling and that companies are less able to pass inflation onto these consumers. This is new news out this weeks earnings of companies like McDonalds. . Based on this I don't think Tesco is worth a P/E of 12 and better off with M&S on a P/E of 14. You could argue the P/E reflects this already...doh!

Clearly we have seen net buying but once all the FMs have finished buying what happens to the inflated share price. It’s no good having the best Company in the World but at the wrong price. Also who buys when 99% of investors hold.

It’s doesn't matter about interest rates or fundamentals.

I simply let the Global investors work out the correct price for the fish and chip shop. They will identify the best but will overpay.
Remember FMs will go into great detail and understanding the F&C shops and then decide the correct SP.

We all appreciate that most FMs have difficulty in adding value compared with other FMs and not sure any PI will be able to add any value.