Greggs (LON:GRG) Reaches New 1-Year High at $3,194.00

Posted by Grant Hamersma on Aug 24th, 2024

Greggs plc (LON:GRG – Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as GBX 3,194 ($41.50) and last traded at GBX 3,175.09 ($41.26), with a volume of 162458 shares traded. The stock had previously closed at GBX 3,166 ($41.14).

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada restated an “overweight” rating and issued a GBX 3,335 ($43.33) target price on shares of Greggs in a report on Wednesday, May 15th. Berenberg Bank raised their price objective on shares of Greggs from GBX 3,340 ($43.40) to GBX 3,600 ($46.78) and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Shore Capital reiterated a “house stock” rating on shares of Greggs in a research report on Tuesday, May 14th.

Read Our Latest Report on GRG

Greggs Stock Down 0.4 %

The stock has a market cap of £3.22 billion, a P/E ratio of 2,370.15, a P/E/G ratio of 3.39 and a beta of 1.43. The company’s 50 day moving average price is GBX 2,947.33 and its two-hundred day moving average price is GBX 2,850.33. The company has a quick ratio of 0.88, a current ratio of 0.80 and a debt-to-equity ratio of 66.19.

Greggs Cuts Dividend

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

Insider Activity at Greggs

In other Greggs news, insider Roisin Currie bought 75 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were bought at an average cost of GBX 1,672 ($21.73) per share, for a total transaction of £1,254 ($1,629.42). 5.96% of the stock is currently owned by corporate 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.