Greggs (LON:GRG) Hits New 52-Week Low - Here's Why

Greggs plc (LON:GRG - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as GBX 1,672 ($21.88) and last traded at GBX 1,700 ($22.25), with a volume of 253365 shares traded. The stock had previously closed at GBX 1,764 ($23.09).

Analysts Set New Price Targets

Separately, Berenberg Bank lowered their target price on Greggs from GBX 3,420 ($44.76) to GBX 3,250 ($42.54) and set a "buy" rating for the company in a report on Wednesday, March 5th.

Greggs Price Performance

The company has a market capitalization of £1.77 billion, a P/E ratio of 13.00, a PEG ratio of 3.39 and a beta of 1.43. 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 business has a 50 day simple moving average of GBX 1,915.91 and a 200-day simple moving average of GBX 2,403.14.

Greggs (LON:GRG - Get Free Report) last issued its quarterly earnings data on Tuesday, March 4th. The company reported GBX 150.70 ($1.97) earnings per share for the quarter. Greggs had a net margin of 7.13% and a return on equity of 26.79%. Analysts predict that Greggs plc will post 142.3763386 EPS for the current fiscal year.

Greggs Increases Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 20th were given a dividend of GBX 100 ($1.31) per share. The ex-dividend date of this dividend was Thursday, March 20th. This is an increase from Greggs's previous dividend of $50.00. This represents a dividend yield of 3.66%. Greggs's payout ratio is currently 48.21%.

Insider Activity at Greggs

In other Greggs news, insider Roisin Currie purchased 721 shares of Greggs stock in a transaction on Tuesday, March 25th. The stock was bought at an average price of GBX 1,796 ($23.51) per share, for a total transaction of £12,949.16 ($16,949.16). 5.89% of the stock is owned by insiders.

Greggs Company Profile

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.