Greggs (LON:GRG) Stock Passes Above 200 Day Moving Average of $2,641.14

Greggs plc (LON:GRG) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 2,641.14 ($33.18) and traded as high as GBX 2,760 ($34.67). Greggs shares last traded at GBX 2,722 ($34.19), with a volume of 180,846 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GRG shares. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 3,450 ($43.34) target price on shares of Greggs in a research report on Wednesday, March 20th. Berenberg Bank lowered their price objective on shares of Greggs from GBX 3,550 ($44.59) to GBX 3,390 ($42.58) and set a “buy” rating on the stock in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of GBX 3,035 ($38.12).

Greggs Stock Performance

The company’s 50-day moving average price is GBX 2,788.29 and its two-hundred day moving average price is GBX 2,643. The company has a market cap of £2.76 billion, a P/E ratio of 1,958.27, a price-to-earnings-growth ratio of 3.39 and a beta of 1.29. The company has a current ratio of 1.09, a quick ratio of 0.88 and a debt-to-equity ratio of 60.20.

Greggs Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be paid a dividend of GBX 86 ($1.08) per share. The ex-dividend date of this dividend is Thursday, April 25th. This is a positive change from Greggs’s previous dividend of $16.00. This represents a yield of 3.17%. Greggs’s dividend payout ratio is currently 4,460.43%.

Insiders Place Their Bets

In related news, insider Roisin Currie acquired 65 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was bought at an average price of GBX 2,766 ($34.74) per share, for a total transaction of £1,797.90 ($2,258.38). In related news, insider Richard Hutton sold 18,005 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of GBX 2,758 ($34.64), for a total value of £496,577.90 ($623,763.22). Also, insider Roisin Currie acquired 65 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were bought at an average price of GBX 2,766 ($34.74) per share, for a total transaction of £1,797.90 ($2,258.38). 5.82% of the stock is currently owned by company 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.