Greggs (LON:GRG) Share Price Crosses Above 200-Day Moving Average of $2,590.15

Shares of Greggs plc (LON:GRGGet Rating) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,590.15 ($32.22) and traded as high as GBX 2,722.16 ($33.86). Greggs shares last traded at GBX 2,686 ($33.41), with a volume of 163,335 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GRG. Berenberg Bank boosted their price objective on shares of Greggs from GBX 3,000 ($37.31) to GBX 3,200 ($39.80) and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Peel Hunt restated a “hold” rating and issued a GBX 2,500 ($31.09) price objective on shares of Greggs in a research report on Tuesday, May 16th. Shore Capital restated a “hold” rating on shares of Greggs in a research report on Tuesday, May 16th. Liberum Capital cut shares of Greggs to a “hold” rating and set a GBX 2,800 ($34.83) price objective on the stock. in a research report on Tuesday, May 16th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 2,950 ($36.69) price target on shares of Greggs in a research report on Wednesday, March 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to, the stock currently has an average rating of “Hold” and a consensus target price of GBX 2,862.50 ($35.60).

Greggs Price Performance

The company has a quick ratio of 0.88, a current ratio of 1.16 and a debt-to-equity ratio of 67.56. The firm’s 50-day moving average is GBX 2,762.68 and its 200-day moving average is GBX 2,590.15. The company has a market cap of £2.74 billion, a PE ratio of 2,295.73, a PEG ratio of 3.39 and a beta of 1.35.

Greggs Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, May 26th. Shareholders of record on Thursday, April 27th will be issued a GBX 44 ($0.55) dividend. This represents a yield of 1.6%. The ex-dividend date is Thursday, April 27th. This is a boost from Greggs’s previous dividend of $15.00. Greggs’s dividend payout ratio is 5,042.74%.

Insiders Place Their Bets

In other Greggs news, insider Richard Hutton sold 6,080 shares of the company’s stock in a transaction dated Friday, March 31st. The shares were sold at an average price of GBX 2,792 ($34.73), for a total value of £169,753.60 ($211,136.32). Corporate insiders own 6.22% of the company’s stock.

Greggs Company Profile

(Get Rating)

Greggs plc operates as a bakery food-on-the-go retailer in the United Kingdom. It offers a range of fresh and frozen 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.

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