Greggs plc (LON:GRG) Insider Sells £359,477.92 in Stock

Greggs plc (LON:GRG) insider Roger Whiteside sold 15,878 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of GBX 2,264 ($29.58), for a total value of £359,477.92 ($469,721.57).

GRG stock opened at GBX 2,190 ($28.62) on Monday. The company has a market cap of $2.22 billion and a P/E ratio of 33.95. Greggs plc has a fifty-two week low of GBX 944.50 ($12.34) and a fifty-two week high of GBX 2,496 ($32.61). The business’s fifty day moving average price is GBX 2,343.80.

The company also recently declared a dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 5th will be paid a dividend of GBX 46.90 ($0.61) per share. This is an increase from Greggs’s previous dividend of $25.00. The ex-dividend date is Thursday, September 5th. This represents a dividend yield of 2.02%. Greggs’s dividend payout ratio is presently 0.56%.

A number of brokerages have issued reports on GRG. UBS Group restated a “neutral” rating on shares of Greggs in a research note on Wednesday, July 31st. Berenberg Bank upped their price objective on Greggs from GBX 1,600 ($20.91) to GBX 1,780 ($23.26) and gave the company a “hold” rating in a research note on Friday, May 17th. HSBC upped their price objective on Greggs from GBX 1,600 ($20.91) to GBX 2,000 ($26.13) and gave the company a “hold” rating in a research note on Tuesday, May 21st. Peel Hunt restated a “reduce” rating on shares of Greggs in a research note on Monday, July 29th. Finally, Shore Capital restated a “hold” rating on shares of Greggs in a research note on Tuesday, May 14th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of GBX 1,765 ($23.06).

About Greggs

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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