Greggs (LON:GRG) Stock Crosses Above 200 Day Moving Average of $2,622.02

Greggs plc (LON:GRG) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 2,622.02 ($32.39) and traded as high as GBX 2,808 ($34.68). Greggs shares last traded at GBX 2,786 ($34.41), with a volume of 86,513 shares.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group restated a “buy” rating and set a GBX 3,450 ($42.61) price target on shares of Greggs in a research note on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of GBX 3,075 ($37.98).

Greggs Stock Down 0.1 %

The business’s 50 day moving average price is GBX 2,794.17 and its 200-day moving average price is GBX 2,622.02. 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 company has a market cap of £2.82 billion, a P/E ratio of 2,004.32, a PEG ratio of 3.39 and a beta of 1.28.

Greggs Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be paid a GBX 86 ($1.06) dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a dividend yield of 3.17%. This is a boost from Greggs’s previous dividend of $16.00. Greggs’s payout ratio is 4,460.43%.

Insider Activity

In other news, insider Roisin Currie bought 65 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was bought at an average price of GBX 2,766 ($34.17) per share, for a total transaction of £1,797.90 ($2,220.73). In related news, 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 ($34.07), for a total value of £496,577.90 ($613,362.03). Also, insider Roisin Currie purchased 65 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was bought at an average cost of GBX 2,766 ($34.17) per share, with a total value of £1,797.90 ($2,220.73). 5.88% of the stock is currently 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.