Berenberg Bank Cuts Greggs (LON:GRG) Price Target to GBX 3,390

Greggs (LON:GRG) had its target price decreased by Berenberg Bank from GBX 3,550 ($43.85) to GBX 3,390 ($41.87) in a research report report published on Thursday morning, Marketbeat.com reports. Berenberg Bank currently has a buy rating on the stock.

Separately, Jefferies Financial Group reiterated a buy rating and set a GBX 3,450 ($42.61) price target on shares of Greggs in a report on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Greggs has an average rating of Hold and a consensus target price of GBX 3,035 ($37.49).

Greggs Stock Up 0.4 %

GRG stock opened at GBX 2,700 ($33.35) on Thursday. The stock has a market capitalization of £2.74 billion, a P/E ratio of 1,942.45, a price-to-earnings-growth ratio of 3.39 and a beta of 1.28. The company has a current ratio of 1.09, a quick ratio of 0.88 and a debt-to-equity ratio of 60.20. The firm has a 50-day moving average price of GBX 2,794.53 and a 200-day moving average price of GBX 2,632.14. Greggs has a 12 month low of GBX 2,244 ($27.72) and a 12 month high of GBX 2,914 ($35.99).

Greggs Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be issued a dividend of GBX 86 ($1.06) per share. The ex-dividend date is Thursday, April 25th. This is an increase from Greggs’s previous dividend of $16.00. This represents a yield of 3.17%. Greggs’s payout ratio is presently 4,460.43%.

Insider Transactions at Greggs

In other news, insider Richard Hutton sold 18,005 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of GBX 2,758 ($34.07), for a total value of £496,577.90 ($613,362.03). In other Greggs news, insider Richard Hutton sold 18,005 shares of Greggs stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of GBX 2,758 ($34.07), for a total value of £496,577.90 ($613,362.03). Also, insider Roisin Currie purchased 65 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were acquired at an average price of GBX 2,766 ($34.17) per share, for a total transaction of £1,797.90 ($2,220.73). 5.88% of the stock is owned by corporate insiders.

Greggs Company Profile

Greggs plc operates as a food-on-the-go retailer in the United Kingdom. It offers a range of fresh bakery products, sandwiches, and drinks. The company sells products to franchise and wholesale partners for sale in their own outlets. It is also involved in the property holding, non-trading, and trustee businesses.