Greggs plc operates as a bakery food-on-the-go retailer in the United Kingdom. It offers a range of fresh and frozen 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. The company operates approximately 2,200 shops and 375 franchise locations. Greggs plc was founded in 1939 and is headquartered in Newcastle upon Tyne, the United Kingdom.
Greggs Price Performance
GRG opened at GBX 2,080 ($25.13) on Tuesday. Greggs has a fifty-two week low of GBX 1,780 ($21.51) and a fifty-two week high of GBX 3,443 ($41.60). The company has a debt-to-equity ratio of 74.29, a current ratio of 1.04 and a quick ratio of 0.88. The company's 50-day moving average is GBX 1,966.49 and its 200 day moving average is GBX 2,245.44. The firm has a market capitalization of £2.12 billion and a P/E ratio of 1,857.14.
Greggs Cuts Dividend
The business also recently declared a dividend, which will be paid on Friday, October 7th. Investors of record on Thursday, September 8th will be given a dividend of GBX 15 ($0.18) per share. The ex-dividend date is Thursday, September 8th. This represents a yield of 0.72%. Greggs's payout ratio is currently 50.89%.
Analyst Ratings Changes
GRG has been the topic of several recent research reports. Berenberg Bank reaffirmed a "buy" rating and set a GBX 3,600 ($43.50) target price on shares of Greggs in a report on Tuesday, August 9th. Shore Capital reaffirmed an "under review" rating on shares of Greggs in a research note on Monday, May 16th.
Insiders Place Their Bets
In other news, insider Roisin Currie bought 38 shares of the firm's stock in a transaction on Monday, June 20th. The stock was acquired at an average cost of GBX 1,935 ($23.38) per share, with a total value of £735.30 ($888.47). In other Greggs news, insider Roisin Currie bought 38 shares of Greggs stock in a transaction dated Monday, June 20th. The stock was purchased at an average price of GBX 1,935 ($23.38) per share, for a total transaction of £735.30 ($888.47). Also, insider Richard Hutton purchased 84 shares of the company's stock in a transaction that occurred on Wednesday, June 1st. The shares were acquired at an average price of GBX 1,484 ($17.93) per share, for a total transaction of £1,246.56 ($1,506.23). Over the last 90 days, insiders have purchased 3,122 shares of company stock valued at $6,351,186.