Barclays Reiterates “Equal Weight” Rating for Greggs (GRG)

Barclays reissued their equal weight rating on shares of Greggs (LON:GRG) in a report issued on Tuesday. The brokerage currently has a GBX 1,030 ($13.97) price objective on the stock.

Several other brokerages have also issued reports on GRG. Shore Capital reaffirmed a hold rating on shares of Greggs in a research note on Tuesday, January 16th. Canaccord Genuity upped their price target on Greggs from GBX 1,300 ($17.63) to GBX 1,320 ($17.91) and gave the company a hold rating in a research note on Wednesday, January 17th. Berenberg Bank upped their price target on Greggs from GBX 1,350 ($18.31) to GBX 1,450 ($19.67) and gave the company a buy rating in a research note on Thursday, February 15th. Finally, Peel Hunt reaffirmed an under review rating and set a GBX 950 ($12.89) price target (down previously from GBX 1,200 ($16.28)) on shares of Greggs in a research note on Wednesday, May 9th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of GBX 1,194 ($16.20).

Shares of Greggs opened at GBX 1,087 ($14.74) on Tuesday, according to MarketBeat. Greggs has a 12-month low of GBX 994.50 ($13.49) and a 12-month high of GBX 1,400.25 ($18.99).

The business also recently disclosed a dividend, which was paid on Friday, May 18th. Investors of record on Thursday, April 19th were issued a GBX 22 ($0.30) dividend. This represents a yield of 1.85%. The ex-dividend date was Thursday, April 19th. This is an increase from Greggs’s previous dividend of $10.30.

In related news, insider Richard Hutton sold 9,209 shares of the company’s stock in a transaction dated Wednesday, April 4th. The stock was sold at an average price of GBX 1,220 ($16.55), for a total value of £112,349.80 ($152,400.71).

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.

Analyst Recommendations for Greggs (LON:GRG)

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