Greggs' (GRG) Overweight Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their overweight rating on shares of Greggs (LON:GRG - Free Report) in a research note published on Wednesday morning, Marketbeat.com reports. Royal Bank of Canada currently has a GBX 3,335 ($41.89) target price on the stock.

A number of other research analysts also recently commented on GRG. Berenberg Bank lowered their price target on shares of Greggs from GBX 3,390 ($42.58) to GBX 3,340 ($41.95) and set a buy rating for the company in a report on Tuesday. Shore Capital reissued a house stock rating on shares of Greggs in a research note on Tuesday. Finally, Jefferies Financial Group reissued a buy rating and issued a GBX 3,450 ($43.33) price objective on shares of Greggs in a research note on Wednesday, March 20th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of GBX 3,085 ($38.75).

Greggs Price Performance

Shares of Greggs stock traded up GBX 8 ($0.10) during trading on Wednesday, reaching GBX 2,784 ($34.97). 141,080 shares of the stock traded hands, compared to its average volume of 218,967. The company has a market capitalization of £2.83 billion, a price-to-earnings ratio of 2,002.88, a P/E/G ratio of 3.39 and a beta of 1.30. The business has a fifty day simple moving average of GBX 2,797.33 and a two-hundred day simple moving average of GBX 2,668.57. The company has a debt-to-equity ratio of 60.20, a current ratio of 1.09 and a quick ratio of 0.88. Greggs has a 52-week low of GBX 2,244 ($28.18) and a 52-week high of GBX 2,910 ($36.55).

Greggs Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be issued a dividend of GBX 86 ($1.08) per share. This represents a yield of 3.17%. This is a positive change from Greggs's previous dividend of $16.00. The ex-dividend date is Thursday, April 25th. Greggs's dividend payout ratio (DPR) is presently 4,460.43%.

Insiders Place Their Bets

In related news, insider Richard Hutton sold 18,005 shares of the company's stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of GBX 2,758 ($34.64), for a total transaction of £496,577.90 ($623,684.88). In other Greggs news, insider Roisin Currie acquired 65 shares of the firm's stock in a transaction dated Thursday, April 11th. The stock was purchased at an average price of GBX 2,766 ($34.74) per share, for a total transaction of £1,797.90 ($2,258.10). Also, insider Richard Hutton sold 18,005 shares of the business's stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of GBX 2,758 ($34.64), for a total value of £496,577.90 ($623,684.88). 5.82% of the stock is owned by company insiders.

About Greggs

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.