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

Greggs (LON:GRG) had its target price reduced by Berenberg Bank from GBX 3,550 ($43.85) to GBX 3,390 ($41.87) in a research report released on Thursday morning, MarketBeat Ratings reports. They currently have a buy rating on the stock.

Separately, Jefferies Financial Group reissued 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Greggs has a consensus rating of Hold and an average price target of GBX 3,035 ($37.49).

Greggs Stock Performance

Shares of GRG stock opened at GBX 2,700 ($33.35) on Thursday. 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 firm has a 50-day moving average of GBX 2,794.53 and a 200-day moving average of GBX 2,630.42. Greggs has a one year low of GBX 2,244 ($27.72) and a one year high of GBX 2,914 ($35.99). The company has a market cap of £2.74 billion, a P/E ratio of 1,942.45, a P/E/G ratio of 3.39 and a beta of 1.28.

Greggs Increases Dividend

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

Insiders Place Their Bets

In related news, insider Roisin Currie bought 65 shares of Greggs stock in a transaction dated Thursday, April 11th. The stock was purchased at an average cost of GBX 2,766 ($34.17) per share, with a total value of £1,797.90 ($2,220.73). In related news, insider Richard Hutton sold 18,005 shares of Greggs stock in a transaction dated 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). Also, insider Roisin Currie bought 65 shares of Greggs stock in a transaction dated Thursday, April 11th. The stock was acquired at an average price of GBX 2,766 ($34.17) per share, with a total value of £1,797.90 ($2,220.73). Insiders own 5.88% of the company’s stock.

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.