Greggs (LON:GRG) Reaches New 1-Year High at $3,200.00

Posted by Alanna Baker on Sep 7th, 2024

Greggs plc (LON:GRG – Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 3,200 ($42.08) and last traded at GBX 3,144 ($41.34), with a volume of 129656 shares. The stock had previously closed at GBX 3,170 ($41.68).

Wall Street Analyst Weigh In

GRG has been the topic of several recent research reports. Shore Capital reissued a “house stock” rating on shares of Greggs in a research report on Tuesday, May 14th. Royal Bank of Canada reiterated an “overweight” rating and issued a GBX 3,335 ($43.85) target price on shares of Greggs in a report on Wednesday, May 15th. Finally, Berenberg Bank raised their price target on shares of Greggs from GBX 3,340 ($43.92) to GBX 3,600 ($47.34) and gave the stock a “buy” rating in a report on Wednesday, July 31st.

Check Out Our Latest Analysis on GRG

Greggs Trading Down 1.0 %

The firm has a market cap of £3.16 billion, a price-to-earnings ratio of 2,323.88, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43. The company has a debt-to-equity ratio of 66.19, a quick ratio of 0.88 and a current ratio of 0.80. The company has a 50 day moving average price of GBX 3,006.69 and a 200 day moving average price of GBX 2,878.66.

Greggs Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, October 4th. Shareholders of record on Thursday, September 5th will be given a GBX 19 ($0.25) dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a yield of 0.65%. Greggs’s payout ratio is currently 4,850.75%.

Insiders Place Their Bets

In related news, insider Roisin Currie purchased 58 shares of Greggs stock in a transaction dated Thursday, June 13th. The shares were acquired at an average cost of GBX 2,846 ($37.42) per share, with a total value of £1,650.68 ($2,170.52). 5.96% of the stock is currently owned by insiders.

About Greggs

(Get Free Report)

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.