Greggs (GRG) Price Target Raised to GBX 1,780

Greggs (LON:GRG) had its target price increased by Berenberg Bank from GBX 1,600 ($20.91) to GBX 1,780 ($23.26) in a research note released on Friday morning, Digital Look reports. They currently have a hold rating on the stock.

A number of other research analysts have also weighed in on the stock. UBS Group lifted their price target on shares of Greggs from GBX 1,600 ($20.91) to GBX 1,725 ($22.54) and gave the company a neutral rating in a research note on Wednesday, February 20th. HSBC lowered shares of Greggs to a hold rating in a research note on Monday, March 11th. Canaccord Genuity lifted their price target on shares of Greggs from GBX 1,470 ($19.21) to GBX 1,730 ($22.61) and gave the company a hold rating in a research note on Tuesday, February 19th. Shore Capital reaffirmed a hold rating on shares of Greggs in a research note on Thursday, March 7th. Finally, Peel Hunt lifted their price target on shares of Greggs from GBX 1,500 ($19.60) to GBX 1,800 ($23.52) and gave the company a hold rating in a research note on Tuesday, May 14th. Seven analysts have rated the stock with a hold rating, The company has an average rating of Hold and a consensus target price of GBX 1,698.33 ($22.19).

Shares of GRG opened at GBX 2,118 ($27.68) on Friday. Greggs has a twelve month low of GBX 939 ($12.27) and a twelve month high of GBX 2,118 ($27.68). The company has a market capitalization of $2.13 billion and a price-to-earnings ratio of 32.84.

The business also recently declared a dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, April 25th will be paid a GBX 25 ($0.33) dividend. The ex-dividend date is Thursday, April 25th. This represents a yield of 1.38%. This is a positive change from Greggs’s previous dividend of $10.70. Greggs’s payout ratio is presently 0.56%.

In other news, insider Richard Hutton sold 1,150 shares of Greggs stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of GBX 1,861 ($24.32), for a total value of £21,401.50 ($27,964.85).

Greggs Company Profile

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, drinks, snacks, small cakes and muffins, breakfast products, and sweet bakery treats, as well as porridges, salads, and soups. The company sells its products through its shops in travel, leisure, and work-centered catchments; and franchised stores in motorway service stations and petrol forecourts.

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Analyst Recommendations for Greggs (LON:GRG)

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