Greggs (LON:GRG) Shares Up 9.2% - Here's Why

Greggs plc (LON:GRG - Get Free Report) rose 9.2% on Wednesday . The stock traded as high as GBX 2,237.88 ($30.28) and last traded at GBX 2,182 ($29.53). Approximately 1,496,559 shares changed hands during mid-day trading, a decline of 0% from the average daily volume of 1,501,760 shares. The stock had previously closed at GBX 1,999 ($27.05).

Wall Street Analyst Weigh In

Several analysts recently weighed in on GRG shares. Shore Capital restated a "buy" rating on shares of Greggs in a report on Tuesday, May 20th. Berenberg Bank restated a "buy" rating and issued a GBX 3,250 ($43.98) target price on shares of Greggs in a research report on Wednesday, May 21st.

Greggs Stock Down 1.0%

The business has a fifty day moving average of GBX 1,843.08 and a 200 day moving average of GBX 2,192.27. The company has a market capitalization of £2.09 billion, a PE ratio of 15.40, a PEG ratio of 3.39 and a beta of 1.43. The company has a current ratio of 0.80, a quick ratio of 0.88 and a debt-to-equity ratio of 66.19.

Greggs (LON:GRG - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported GBX 150.70 ($2.04) EPS for the quarter. Greggs had a return on equity of 26.79% and a net margin of 7.13%. Equities research analysts anticipate that Greggs plc will post 142.3763386 EPS for the current year.

Greggs Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 20th were given a GBX 100 ($1.35) dividend. This is an increase from Greggs's previous dividend of $50.00. The ex-dividend date was Thursday, March 20th. This represents a yield of 3.66%. Greggs's dividend payout ratio is 48.21%.

Insider Buying and Selling at Greggs

In other Greggs news, insider Roisin Currie acquired 721 shares of the company's stock in a transaction dated Tuesday, March 25th. The stock was acquired at an average cost of GBX 1,796 ($24.30) per share, with a total value of £12,949.16 ($17,522.54). 5.89% of the stock is currently owned by corporate insiders.

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.