Greggs plc (LON:GRG) Increases Dividend to GBX 86 Per Share

Greggs plc (LON:GRG) declared a dividend on Tuesday, March 5th, Upcoming.Co.Uk reports. Investors of record on Thursday, April 25th will be given a dividend of GBX 86 ($1.06) per share on Friday, May 24th. This represents a dividend yield of 3.17%. The ex-dividend date is Thursday, April 25th. This is a positive change from Greggs’s previous dividend of $16.00. The official announcement can be accessed at this link.

Greggs Price Performance

Greggs stock opened at GBX 2,799.64 ($34.58) on Tuesday. The business has a 50 day simple moving average of GBX 2,794.17 and a 200 day simple moving average of GBX 2,622.02. Greggs has a one year low of GBX 2,244 ($27.72) and a one year high of GBX 2,914 ($35.99). The company has a market capitalization of £2.84 billion, a PE ratio of 2,004.32, a price-to-earnings-growth ratio of 3.39 and a beta of 1.28. The company has a debt-to-equity ratio of 60.20, a current ratio of 1.09 and a quick ratio of 0.88.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 3,450 ($42.61) price target on shares of Greggs in a report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of GBX 3,075 ($37.98).

Insider Transactions at Greggs

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