Shore Capital Reiterates “Hold” Rating for Greggs (LON:GRG)

Shore Capital reiterated their hold rating on shares of Greggs (LON:GRG) in a research note released on Tuesday morning, MarketBeat reports.

A number of other equities research analysts have also issued reports on the stock. Royal Bank of Canada reiterated an overweight rating and set a GBX 3,335 ($43.61) target price on shares of Greggs in a report on Wednesday, May 15th. Berenberg Bank boosted their target price on Greggs from GBX 3,340 ($43.68) to GBX 3,600 ($47.08) and gave the stock a buy rating in a research note on Wednesday, July 31st.

Greggs Stock Performance

LON GRG opened at GBX 3,172 ($41.48) on Tuesday. The company has a market cap of £3.22 billion, a P/E ratio of 2,358.21, a P/E/G ratio of 3.39 and a beta of 1.43. Greggs has a 1-year low of GBX 2,244 ($29.34) and a 1-year high of GBX 3,230 ($42.24). The company has a debt-to-equity ratio of 66.19, a current ratio of 0.80 and a quick ratio of 0.88. The stock has a 50-day moving average of GBX 3,043.05 and a two-hundred day moving average of GBX 2,891.03.

Greggs Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, October 4th. Shareholders of record on Thursday, September 5th will be given a GBX 19 ($0.25) dividend. This represents a dividend yield of 0.65%. The ex-dividend date is Thursday, September 5th. Greggs’s dividend payout ratio is presently 4,850.75%.

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.