Greggs (LON:GRG) Price Target Cut to GBX 3,390 by Analysts at Berenberg Bank

Greggs (LON:GRG) had its price objective trimmed by Berenberg Bank from GBX 3,550 ($43.85) to GBX 3,390 ($41.87) in a report issued on Thursday, Digital Look reports. The firm currently has a buy rating on the stock.

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

Greggs Stock Up 0.7 %

GRG opened at GBX 2,706 ($33.42) on Thursday. The stock has a fifty day moving average of GBX 2,796.37 and a 200-day moving average of GBX 2,626.42. The company has a market capitalization of £2.74 billion, a P/E ratio of 1,946.76, a P/E/G ratio of 3.39 and a beta of 1.28. Greggs has a fifty-two week low of GBX 2,244 ($27.72) and a fifty-two week high of GBX 2,914 ($35.99). The company has a debt-to-equity ratio of 60.20, a quick ratio of 0.88 and a current ratio of 1.09.

Greggs Increases Dividend

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

Insider Transactions at Greggs

In other Greggs news, insider Richard Hutton sold 18,005 shares of the firm’s stock in a transaction 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). In other news, insider Richard Hutton sold 18,005 shares of the 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). Also, insider Roisin Currie purchased 65 shares of Greggs stock in a transaction dated Thursday, April 11th. The stock was bought 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 currently owned by 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.