Berenberg Bank Lowers Greggs (LON:GRG) Price Target to GBX 3,390

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 published on Thursday, MarketBeat.com reports. They currently have a buy rating on the stock.

Separately, Jefferies Financial Group restated a buy rating and issued a GBX 3,450 ($42.61) price objective 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 company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of GBX 3,035 ($37.49).

Greggs Stock Up 0.4 %

GRG stock opened at GBX 2,700 ($33.35) on Thursday. The business’s 50-day moving average price is GBX 2,794.53 and its 200-day moving average price is GBX 2,630.42. The stock has a market cap of £2.74 billion, a P/E ratio of 1,942.45, a PEG ratio of 3.39 and a beta of 1.28. Greggs has a twelve month low of GBX 2,244 ($27.72) and a twelve month high of GBX 2,914 ($35.99). The company has a quick ratio of 0.88, a current ratio of 1.09 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. Stockholders of record on Thursday, April 25th will be paid a dividend of GBX 86 ($1.06) per share. This is a boost 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 currently 4,460.43%.

Insider Activity 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 Richard Hutton sold 18,005 shares of Greggs 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 transaction of £496,577.90 ($613,362.03). Also, insider Roisin Currie purchased 65 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were purchased 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 owned by company insiders.

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.