Greggs plc (LON:GRG) Raises Dividend to GBX 86 Per Share

Greggs plc (LON:GRG) announced a dividend on Tuesday, March 5th, Upcoming.Co.Uk reports. Shareholders of record on Thursday, April 25th will be paid a dividend of GBX 86 ($1.06) per share on Friday, May 24th. This represents a yield of 3.17%. The ex-dividend date of this dividend is Thursday, April 25th. This is a positive change from Greggs’s previous dividend of $16.00. The official announcement can be accessed at this link.

Greggs Stock Performance

Shares of LON GRG opened at GBX 2,807 ($34.67) on Wednesday. The company has a debt-to-equity ratio of 60.20, a current ratio of 1.09 and a quick ratio of 0.88. The firm has a fifty day moving average price of GBX 2,796.65 and a 200-day moving average price of GBX 2,624.90. Greggs has a 1 year low of GBX 2,244 ($27.72) and a 1 year high of GBX 2,914 ($35.99). The stock has a market cap of £2.85 billion, a PE ratio of 2,010.83, a price-to-earnings-growth ratio of 3.39 and a beta of 1.28.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group restated a “buy” rating and set a GBX 3,450 ($42.61) target price on shares of Greggs in a research report on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of GBX 3,075 ($37.98).

Insider Buying and Selling at Greggs

In other Greggs news, insider Richard Hutton sold 18,005 shares of the stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of GBX 2,758 ($34.07), for a total transaction of £496,577.90 ($613,362.03). In other news, insider Roisin Currie bought 65 shares of the stock in a transaction dated Thursday, April 11th. The stock was purchased at an average price of GBX 2,766 ($34.17) per share, for a total transaction of £1,797.90 ($2,220.73). Also, insider Richard Hutton sold 18,005 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of GBX 2,758 ($34.07), for a total transaction of £496,577.90 ($613,362.03). 5.88% of the stock is owned by company insiders.

Greggs Company Profile

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.