Greggs (LON:GRG) Shares Cross Above 200-Day Moving Average of $2,913.02

Shares of Greggs plc (LON:GRG) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,913.02 ($39.01) and traded as high as GBX 3,138 ($42.02). Greggs shares last traded at GBX 3,118 ($41.75), with a volume of 62,871 shares traded.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Shore Capital reiterated a “hold” rating on shares of Greggs in a research report on Tuesday, September 10th. Berenberg Bank lifted their price target on shares of Greggs from GBX 3,340 ($44.72) to GBX 3,600 ($48.21) and gave the company a “buy” rating in a report on Wednesday, July 31st.

Greggs Price Performance

The business has a 50-day moving average of GBX 3,080.87 and a two-hundred day moving average of GBX 2,913.02. The company has a current ratio of 0.80, a quick ratio of 0.88 and a debt-to-equity ratio of 66.19. The firm has a market cap of £3.16 billion, a P/E ratio of 2,326.87, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43.

Greggs Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, October 4th. Investors of record on Thursday, September 5th will be given a dividend of GBX 19 ($0.25) per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a yield of 0.65%. Greggs’s dividend payout ratio is presently 4,850.75%.

About Greggs

Greggs plc operates as a food-on-the-go retailer in the United Kingdom. It offers a range of fresh 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.