Berenberg Bank Cuts Greggs (LON:GRG) Price Target to GBX 3,340

Greggs (LON:GRG) had its price target decreased by Berenberg Bank from GBX 3,390 ($42.58) to GBX 3,340 ($41.95) in a research report report published on Tuesday, MarketBeat.com reports. Berenberg Bank currently has a buy rating on the stock.

GRG has been the subject of a number of other research reports. Shore Capital reaffirmed a house stock rating on shares of Greggs in a research note on Tuesday. Jefferies Financial Group reaffirmed a buy rating and issued a GBX 3,450 ($43.33) target price on shares of Greggs in a research report on Wednesday, March 20th.

Greggs Trading Down 0.4 %

GRG opened at GBX 2,774 ($34.84) on Tuesday. Greggs has a one year low of GBX 2,244 ($28.18) and a one year high of GBX 2,910 ($36.55). The company has a debt-to-equity ratio of 60.20, a current ratio of 1.09 and a quick ratio of 0.88. The business has a 50 day simple moving average of GBX 2,794.41 and a two-hundred day simple moving average of GBX 2,670.14. The firm has a market capitalization of £2.82 billion, a price-to-earnings ratio of 1,995.68, a PEG ratio of 3.39 and a beta of 1.30.

Greggs Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be issued a GBX 86 ($1.08) dividend. This is an increase from Greggs’s previous dividend of $16.00. The ex-dividend date is Thursday, April 25th. This represents a yield of 3.17%. Greggs’s dividend payout ratio is 4,460.43%.

Insider Activity

In other Greggs news, insider Roisin Currie purchased 65 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was bought at an average cost of GBX 2,766 ($34.74) per share, for a total transaction of £1,797.90 ($2,258.10). In other Greggs news, insider Richard Hutton sold 18,005 shares of Greggs stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of GBX 2,758 ($34.64), for a total value of £496,577.90 ($623,684.88). Also, insider Roisin Currie purchased 65 shares of Greggs stock in a transaction that occurred on Thursday, April 11th. The shares were purchased at an average cost of GBX 2,766 ($34.74) per share, with a total value of £1,797.90 ($2,258.10). Company insiders own 5.82% of the company’s stock.

About Greggs

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.