Greggs (LON:GRG) Share Price Crosses Above 200 Day Moving Average of $2,574.70

Greggs plc (LON:GRG)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 2,574.70 ($32.54) and traded as high as GBX 2,870 ($36.27). Greggs shares last traded at GBX 2,860 ($36.14), with a volume of 153,008 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 3,450 ($43.60) price objective on shares of Greggs in a research note on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Greggs has an average rating of “Hold” and an average target price of GBX 3,075 ($38.86).

Greggs Price Performance

The firm has a market capitalization of £2.90 billion, a P/E ratio of 2,057.55, a price-to-earnings-growth ratio of 3.39 and a beta of 1.28. The firm has a 50 day moving average price of GBX 2,747.60 and a 200-day moving average price of GBX 2,574.70. The company has a current ratio of 1.09, a quick ratio of 0.88 and a debt-to-equity ratio of 60.20.

Greggs Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be issued a GBX 86 ($1.09) dividend. This represents a dividend yield of 3.17%. This is an increase from Greggs’s previous dividend of $16.00. The ex-dividend date of this dividend is Thursday, April 25th. Greggs’s dividend payout ratio is presently 4,460.43%.

Greggs Company Profile

Greggs plc operates as a food-on-the-go retailer in the United Kingdom. It offers a range of fresh and frozen bakery products, sandwiches, and drinks. The company sells products to franchise and wholesale partners for sale in their own outlets. It is also involved in the property holding, non-trading, and trustee businesses.