Insider Selling: Greggs plc (LON:GRG) Insider Sells £496,577.90 in Stock

Greggs plc (LON:GRG) 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 ($34.33), for a total transaction of £496,577.90 ($618,172.41).

Greggs Trading Down 0.2 %

Greggs stock opened at GBX 2,732 ($34.01) on Thursday. The stock has a 50-day moving average price of GBX 2,789.89 and a 200 day moving average price of GBX 2,611.95. Greggs plc has a 52 week low of GBX 2,244 ($27.93) and a 52 week high of GBX 2,914 ($36.28). The stock has a market cap of £2.77 billion, a PE ratio of 1,965.47, a P/E/G 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.

Greggs Increases Dividend

The company also recently disclosed 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 ($1.07) per share. This is an increase from Greggs’s previous dividend of $16.00. The ex-dividend date of this dividend is Thursday, April 25th. This represents a dividend yield of 3.17%. Greggs’s dividend payout ratio is presently 4,460.43%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group restated a “buy” rating and set a GBX 3,450 ($42.95) price objective on shares of Greggs in a research report on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Greggs has a consensus rating of “Hold” and a consensus price target of GBX 3,075 ($38.28).

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.