Greggs (LON:GRG) Price Target Increased to GBX 3,600 by Analysts at Berenberg Bank

Greggs (LON:GRG) had its price target increased by Berenberg Bank from GBX 3,340 ($42.96) to GBX 3,600 ($46.31) in a research note issued to investors on Wednesday, Digital Look reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently weighed in on the company. Royal Bank of Canada reissued an overweight rating and issued a GBX 3,335 ($42.90) price objective on shares of Greggs in a report on Wednesday, May 15th. Shore Capital reaffirmed a house stock rating on shares of Greggs in a report on Tuesday, May 14th.

Greggs Trading Up 1.1 %

Shares of GRG stock opened at GBX 3,170 ($40.78) on Wednesday. The company’s 50-day moving average price is GBX 2,869.13 and its 200-day moving average price is GBX 2,797.98. The company has a current ratio of 1.09, a quick ratio of 0.88 and a debt-to-equity ratio of 60.20. The stock has a market cap of £3.22 billion, a price-to-earnings ratio of 2,274.06, a PEG ratio of 3.39 and a beta of 1.30. Greggs has a twelve month low of GBX 2,244 ($28.87) and a twelve month high of GBX 3,194 ($41.09).

Greggs Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, October 4th. Shareholders of record on Thursday, September 5th will be paid a GBX 19 ($0.24) dividend. This represents a yield of 0.65%. The ex-dividend date of this dividend is Thursday, September 5th. Greggs’s payout ratio is 4,460.43%.

Insiders Place Their Bets

In other news, insider Roisin Currie acquired 58 shares of Greggs stock in a transaction dated Thursday, June 13th. The shares were acquired at an average cost of GBX 2,846 ($36.61) per share, with a total value of £1,650.68 ($2,123.33). 5.80% of the stock is owned by corporate 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.