The Tesco (LSE: TSCO) share price has grabbed headlines this year, and it’s easy to see why. In February, it briefly hit 500p, a level not seen in 15 years.

The high price comes after half a decade of impressive growth, with the shares climbing almost 110%. Not bad for a supermarket chain that many people consider a ‘steady’ income stock – rather than an exciting growth story.

For context, the last time Tesco was around 500p was in late 2011, back when the grocery sector looked very different. That was before the long grind of deflation, fierce discounting, and weak margins.

So where’s it heading?

Despite the notable milestone, Tesco shares have struggled to hold on to 500p. They’re now hovering…