Greggs (LON:GRG) Sets New 12-Month Low – Here’s Why

Shares of Greggs plc (LON:GRG) reached a new 52-week low during trading on Monday . The stock traded as low as GBX 1,746 ($22.57) and last traded at GBX 1,751 ($22.64), with a volume of 80431 shares trading hands. The stock had previously closed at GBX 1,781.59 ($23.03).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank lowered their price target on shares of Greggs from GBX 3,420 ($44.21) to GBX 3,250 ($42.02) and set a “buy” rating on the stock in a research report on Wednesday, March 5th.

Greggs Stock Performance

The stock has a market cap of £1.80 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43. The company has a current ratio of 0.80, a quick ratio of 0.88 and a debt-to-equity ratio of 66.19. The stock has a 50 day simple moving average of GBX 1,989.74 and a 200 day simple moving average of GBX 2,492.

Greggs (LON:GRG) last posted its quarterly earnings results on Tuesday, March 4th. The company reported GBX 150.70 ($1.95) EPS for the quarter. Greggs had a return on equity of 26.79% and a net margin of 7.13%. On average, equities analysts expect that Greggs plc will post 142.3763386 earnings per share for the current year.

Greggs Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 20th were given a dividend of GBX 100 ($1.29) per share. This is a positive change from Greggs’s previous dividend of $50.00. The ex-dividend date of this dividend was Thursday, March 20th. This represents a dividend yield of 3.66%. Greggs’s dividend payout ratio (DPR) is currently 48.21%.

Insider Buying and Selling at Greggs

In related news, insider Nigel Mills acquired 925 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was acquired at an average cost of GBX 2,149 ($27.78) per share, for a total transaction of £19,878.25 ($25,699.10). Also, insider Roisin Currie bought 721 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was bought at an average price of GBX 1,796 ($23.22) per share, for a total transaction of £12,949.16 ($16,741.00). Company insiders own 5.89% of the company’s stock.

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.