Greggs (GRG) Price Target Raised to GBX 2,000

Greggs (LON:GRG) had its target price boosted by HSBC from GBX 1,600 ($20.91) to GBX 2,000 ($26.13) in a research note released on Tuesday morning, ThisIsMoney.Co.Uk reports. The brokerage currently has a hold rating on the stock.

Several other research analysts have also issued reports on GRG. Berenberg Bank increased their price target on shares of Greggs from GBX 1,600 ($20.91) to GBX 1,780 ($23.26) and gave the stock a hold rating in a research report on Friday, May 17th. Peel Hunt increased their price target on shares of Greggs from GBX 1,500 ($19.60) to GBX 1,800 ($23.52) and gave the stock a hold rating in a research report on Tuesday, May 14th. UBS Group increased their price target on shares of Greggs from GBX 1,725 ($22.54) to GBX 1,880 ($24.57) and gave the stock a neutral rating in a research report on Wednesday, May 15th. Shore Capital reissued a hold rating on shares of Greggs in a research report on Tuesday, May 14th. Finally, Canaccord Genuity reissued a hold rating and issued a GBX 1,730 ($22.61) price target on shares of Greggs in a research report on Thursday, March 7th. Seven research analysts have rated the stock with a hold rating, The stock has a consensus rating of Hold and a consensus price target of GBX 1,765 ($23.06).

LON:GRG opened at GBX 2,162 ($28.25) on Tuesday. Greggs has a 12-month low of GBX 939 ($12.27) and a 12-month high of GBX 2,118 ($27.68). The stock has a market capitalization of $2.18 billion and a P/E ratio of 33.52.

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

In other news, insider Richard Hutton sold 7,195 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of GBX 1,824 ($23.83), for a total transaction of £131,236.80 ($171,484.12).

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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