Greggs plc (GRG) Price Target Cut to GBX 1,225

Greggs plc (LON:GRG) had its price target dropped by research analysts at Investec from GBX 1,250 ($16.32) to GBX 1,225 ($15.99) in a research note issued on Tuesday. The brokerage presently has a “buy” rating on the stock. Investec’s price objective suggests a potential upside of 17.22% from the company’s previous close.

GRG has been the topic of a number of other research reports. Canaccord Genuity restated a “buy” rating and set a GBX 1,300 ($16.97) target price on shares of Greggs plc in a research note on Tuesday. Peel Hunt restated a “buy” rating and set a GBX 1,320 ($17.23) target price on shares of Greggs plc in a research note on Tuesday, August 2nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of GBX 1,216.25 ($15.88).

Shares of Greggs plc (LON:GRG) opened at 1045.5392 on Tuesday. Greggs plc has a 12-month low of GBX 869.00 and a 12-month high of GBX 1,335.00. The stock’s 50 day moving average is GBX 1,040.31 and its 200-day moving average is GBX 1,050.94. The stock’s market capitalization is GBX 1.05 billion.

The business also recently declared a dividend, which will be paid on Friday, October 7th. Shareholders of record on Thursday, September 8th will be paid a GBX 9.50 ($0.12) dividend. This represents a yield of 0.91%. The ex-dividend date of this dividend is Thursday, September 8th.

In other Greggs plc news, insider Hutton,Richard sold 41,170 shares of the business’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of GBX 1,050 ($13.71), for a total value of £432,285 ($564,267.07).

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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