Greggs (LON:GRG) Hits New 1-Year Low – Here’s What Happened

Greggs plc (LON:GRG)’s share price reached a new 52-week low during mid-day 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 changing hands. The stock had previously closed at GBX 1,781.59 ($23.03).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank cut their target price 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 firm has a market capitalization 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 50-day moving average of GBX 1,989.74 and a 200-day moving average of GBX 2,492. The company has a current ratio of 0.80, a quick ratio of 0.88 and a debt-to-equity ratio of 66.19.

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

Greggs Increases Dividend

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

Insider Activity at Greggs

In other Greggs news, insider Nigel Mills bought 925 shares of the stock in a transaction 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 purchased 721 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was acquired at an average cost of GBX 1,796 ($23.22) per share, for a total transaction of £12,949.16 ($16,741.00). 5.89% of the stock is owned by company insiders.

Greggs Company Profile

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.