Greggs plc (GRG) Receives Consensus Rating of “Buy” from Brokerages
Greggs plc (LON:GRG) has received a consensus rating of “Buy” from the six analysts that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is GBX 1,215 ($15.97).
GRG has been the subject of a number of research reports. Shore Capital restated a “hold” rating on shares of Greggs plc in a research note on Tuesday, October 3rd. Berenberg Bank raised their target price on Greggs plc from GBX 1,300 ($17.09) to GBX 1,350 ($17.75) and gave the company a “buy” rating in a research note on Thursday, October 5th. Canaccord Genuity raised their target price on Greggs plc from GBX 1,000 ($13.15) to GBX 1,300 ($17.09) and gave the company a “hold” rating in a research note on Thursday. Finally, Investec restated a “buy” rating and issued a GBX 1,225 ($16.11) target price on shares of Greggs plc in a research note on Tuesday, August 1st.
In related news, insider Richard Hutton sold 24,949 shares of Greggs plc stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of GBX 1,292 ($16.99), for a total value of £322,341.08 ($423,798.42).
The firm also recently announced a dividend, which was paid on Friday, October 6th. Stockholders of record on Thursday, September 7th were paid a GBX 10.30 ($0.14) dividend. The ex-dividend date was Thursday, September 7th. This represents a dividend yield of 0.92%.
Greggs plc Company Profile
Greggs plc is a United Kingdom-based bakery food on-the-go retailer. The Company’s products and services consist of a range of fresh bakery goods, sandwiches and drinks in its shop. The Company also provides frozen bakery products to its wholesale customers. The Company owns approximately 1,698 shops, 12 regional bakeries, one distribution center and one manufacturing center.
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