Greggs (LON:GRG) PT Lowered to GBX 3,390 at Berenberg Bank

Greggs (LON:GRG) had its price objective cut by Berenberg Bank from GBX 3,550 ($43.85) to GBX 3,390 ($41.87) in a report released on Thursday, Marketbeat.com reports. They currently have a buy rating on the stock.

Separately, Jefferies Financial Group reaffirmed a buy rating and issued a GBX 3,450 ($42.61) target price 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of GBX 3,035 ($37.49).

Greggs Stock Performance

Shares of GRG opened at GBX 2,700 ($33.35) on Thursday. The company has a market capitalization of £2.74 billion, a PE ratio of 1,942.45, a price-to-earnings-growth ratio of 3.39 and a beta of 1.28. The company has a debt-to-equity ratio of 60.20, a current ratio of 1.09 and a quick ratio of 0.88. Greggs has a one year low of GBX 2,244 ($27.72) and a one year high of GBX 2,914 ($35.99). The company’s fifty day moving average price is GBX 2,794.53 and its 200 day moving average price is GBX 2,632.14.

Greggs Increases Dividend

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

Insider Buying and Selling at Greggs

In other news, insider Richard Hutton sold 18,005 shares of the company’s stock in a transaction dated 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 Roisin Currie bought 65 shares of the stock in a transaction dated Thursday, April 11th. The stock was bought at an average cost of GBX 2,766 ($34.17) per share, for a total transaction of £1,797.90 ($2,220.73). Also, insider Richard Hutton sold 18,005 shares of the stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of GBX 2,758 ($34.07), for a total transaction of £496,577.90 ($613,362.03). Company insiders own 5.88% of the company’s stock.

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.