Insider Selling: Greggs plc (LON:GRG) Insider Sells 18,005 Shares of Stock

Greggs plc (LON:GRG) insider Richard Hutton sold 18,005 shares of the firm’s stock in a transaction that occurred on 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 Stock Up 1.5 %

Shares of Greggs stock opened at GBX 2,796 ($34.81) on Tuesday. 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 company has a 50 day moving average of GBX 2,787.01 and a 200 day moving average of GBX 2,609.06. The company has a quick ratio of 0.88, a current ratio of 1.09 and a debt-to-equity ratio of 60.20. The company has a market capitalization of £2.84 billion, a P/E ratio of 2,011.51, a P/E/G ratio of 3.39 and a beta of 1.28.

Greggs Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be paid a GBX 86 ($1.07) dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a yield of 3.17%. This is an increase from Greggs’s previous dividend of $16.00. Greggs’s payout ratio is currently 4,460.43%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reissued a “buy” rating and issued a GBX 3,450 ($42.95) price objective on shares of Greggs in a research note on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of GBX 3,075 ($38.28).

Greggs Company Profile

Greggs plc operates as a 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.