Greggs’ (GRG) “Buy” Rating Reaffirmed at Shore Capital

Shore Capital reiterated their buy rating on shares of Greggs (LON:GRG) in a research note published on Tuesday, Marketbeat Ratings reports.

Separately, Berenberg Bank cut their price target on shares of Greggs from GBX 3,420 ($45.80) to GBX 3,250 ($43.52) and set a “buy” rating for the company in a report on Wednesday, March 5th.

Greggs Stock Down 0.6%

Shares of LON GRG opened at GBX 2,168 ($29.03) on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.80 and a debt-to-equity ratio of 66.19. The company has a market cap of £2.19 billion, a P/E ratio of 16.08, a P/E/G ratio of 3.39 and a beta of 1.43. Greggs has a 52 week low of GBX 1,657 ($22.19) and a 52 week high of GBX 3,250 ($43.52). The business has a 50-day simple moving average of GBX 1,827.02 and a two-hundred day simple moving average of GBX 2,210.36.

Greggs (LON:GRG) last released its quarterly earnings data on Tuesday, March 4th. The company reported GBX 150.70 ($2.02) EPS for the quarter. Greggs had a net margin of 7.13% and a return on equity of 26.79%. Research analysts anticipate that Greggs will post 142.3763386 earnings per share for the current fiscal year.

Greggs Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 20th were issued a GBX 100 ($1.34) dividend. The ex-dividend date was Thursday, March 20th. This represents a dividend yield of 3.66%. This is a boost from Greggs’s previous dividend of $50.00. Greggs’s dividend payout ratio (DPR) is presently 48.21%.

Insider Activity

In related news, insider Roisin Currie acquired 721 shares of the stock in a transaction dated Tuesday, March 25th. The shares were purchased at an average price of GBX 1,796 ($24.05) per share, for a total transaction of £12,949.16 ($17,341.85). Corporate insiders own 5.89% of the company’s stock.

About Greggs

Greggs is a leading UK food-on-the-go retailer with more than 2,600 shops nationwide and approximately 33,000 employees across the business.

As a food-on-the-go retailer, Greggs specialises in daily fresh shop-made sandwiches, and savouries baked fresh in the shop ovens throughout the day. These are further complemented by popular products and ranges including freshly ground coffee, breakfast, confectionery and evening menu items.