Greggs (LON:GRG) Stock Passes Above 200 Day Moving Average of $2,811.76

Greggs plc (LON:GRG)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 2,811.76 ($35.93) and traded as high as GBX 3,094 ($39.54). Greggs shares last traded at GBX 3,094 ($39.54), with a volume of 147,864 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Berenberg Bank upped their price objective on Greggs from GBX 3,340 ($42.68) to GBX 3,600 ($46.01) and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada restated an “overweight” rating and issued a GBX 3,335 ($42.62) price objective on shares of Greggs in a research note on Wednesday, May 15th. Finally, Shore Capital restated a “house stock” rating on shares of Greggs in a research note on Tuesday, May 14th.

Greggs Stock Performance

The stock’s 50 day moving average price is GBX 2,893.25 and its two-hundred day moving average price is GBX 2,816.59. The firm has a market capitalization of £3.17 billion, a PE ratio of 2,246.04, a PEG ratio of 3.39 and a beta of 1.30. The company has a current ratio of 1.09, a quick ratio of 0.88 and a debt-to-equity ratio of 60.20.

Greggs Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, October 4th. Shareholders of record on Thursday, September 5th will be issued a GBX 19 ($0.24) dividend. The ex-dividend date is Thursday, September 5th. This represents a dividend yield of 0.65%. Greggs’s dividend payout ratio (DPR) is presently 4,460.43%.

Insider Buying and Selling at Greggs

In other Greggs news, insider Roisin Currie bought 75 shares of Greggs stock in a transaction that occurred on Thursday, June 6th. The shares were acquired at an average price of GBX 1,672 ($21.37) per share, for a total transaction of £1,254 ($1,602.56). 5.80% of the stock is owned by company insiders.

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.