Greggs (LON:GRG) Trading Up 9.2% – Should You Buy?

Greggs plc (LON:GRG) shares rose 9.2% during mid-day trading on Wednesday . The company traded as high as GBX 2,237.88 ($29.97) and last traded at GBX 2,182 ($29.22). Approximately 1,496,559 shares were traded during trading, a decline of 0% from the average daily volume of 1,501,760 shares. The stock had previously closed at GBX 1,999 ($26.77).

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Shore Capital reaffirmed a “buy” rating on shares of Greggs in a research note on Tuesday. Berenberg Bank reduced their price target on shares of Greggs from GBX 3,420 ($45.80) to GBX 3,250 ($43.52) and set a “buy” rating for the company in a research report on Wednesday, March 5th.

Greggs Price Performance

The company has a quick ratio of 0.88, a current ratio of 0.80 and a debt-to-equity ratio of 66.19. The business’s 50-day simple moving average is GBX 1,827.02 and its 200-day simple moving average is GBX 2,210.36. The stock has a market cap of £2.17 billion, a PE ratio of 15.98, a PEG ratio of 3.39 and a beta of 1.43.

Greggs (LON:GRG) last posted its quarterly earnings data on Tuesday, March 4th. The company reported GBX 150.70 ($2.02) earnings per share for the quarter. Greggs had a return on equity of 26.79% and a net margin of 7.13%. On average, research analysts expect that Greggs plc will post 142.3763386 EPS for the current fiscal year.

Greggs Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 20th were issued a dividend of GBX 100 ($1.34) per share. The ex-dividend date of this dividend was Thursday, March 20th. This is an increase from Greggs’s previous dividend of $50.00. This represents a dividend yield of 3.66%. Greggs’s dividend payout ratio (DPR) is presently 48.21%.

Insider Buying and Selling at Greggs

In related news, insider Roisin Currie acquired 721 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were bought at an average price of GBX 1,796 ($24.05) per share, for a total transaction of £12,949.16 ($17,341.85). 5.89% of the stock is owned by company 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.