Greggs (LON:GRG) Share Price Passes Above 200-Day Moving Average of $2,641.14

Greggs plc (LON:GRG) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 2,641.14 ($33.18) and traded as high as GBX 2,760 ($34.67). Greggs shares last traded at GBX 2,722 ($34.19), with a volume of 180,846 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have issued reports on GRG. Berenberg Bank cut their price target on Greggs from GBX 3,550 ($44.59) to GBX 3,390 ($42.58) and set a “buy” rating for the company in a report on Thursday, April 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 3,450 ($43.34) price objective on shares of Greggs in a research report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of GBX 3,035 ($38.12).

Greggs Stock Performance

The company has a market cap of £2.76 billion, a PE ratio of 1,958.27, a PEG ratio of 3.39 and a beta of 1.29. 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 business’s 50 day moving average is GBX 2,788.29 and its two-hundred day moving average is GBX 2,641.14.

Greggs Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be issued a dividend of GBX 86 ($1.08) per share. The ex-dividend date of this dividend is Thursday, April 25th. This is a boost from Greggs’s previous dividend of $16.00. This represents a yield of 3.17%. Greggs’s dividend payout ratio (DPR) is currently 4,460.43%.

Insider Transactions at Greggs

In other Greggs news, insider Richard Hutton sold 18,005 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of GBX 2,758 ($34.64), for a total transaction of £496,577.90 ($623,763.22). In other news, insider Roisin Currie acquired 65 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was purchased at an average price of GBX 2,766 ($34.74) per share, for a total transaction of £1,797.90 ($2,258.38). Also, 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 ($34.64), for a total value of £496,577.90 ($623,763.22). Corporate insiders own 5.82% 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.