Greggs plc (LON:GRG) Plans Dividend Increase – GBX 100 Per Share

Greggs plc (LON:GRG) declared a dividend on Tuesday, March 18th, Upcoming Dividends.Co.Uk reports. Stockholders of record on Thursday, March 20th will be given a dividend of GBX 100 ($1.30) per share on Thursday, March 27th. This represents a dividend yield of 3.66%. The ex-dividend date of this dividend is Thursday, March 20th. This is a 100.0% increase from Greggs’s previous dividend of $50.00. The official announcement can be viewed at this link.

Greggs Stock Down 0.6 %

GRG traded down GBX 12 ($0.16) on Tuesday, reaching GBX 1,850 ($24.05). 13,959,284 shares of the company traded hands, compared to its average volume of 2,319,966. The stock’s 50 day moving average price is GBX 2,094.22 and its 200-day moving average price is GBX 2,597.47. Greggs has a 52-week low of GBX 1,755 ($22.82) and a 52-week high of GBX 3,250 ($42.25). The company has a market cap of £1.87 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 3.39 and a beta of 1.43. The company has a debt-to-equity ratio of 66.19, a current ratio of 0.80 and a quick ratio of 0.88.

Greggs (LON:GRG) last posted its earnings results on Tuesday, March 4th. The company reported GBX 150.70 ($1.96) earnings per share (EPS) for the quarter. Greggs had a net margin of 7.13% and a return on equity of 26.79%. On average, sell-side analysts expect that Greggs will post 142.3763386 EPS for the current fiscal year.

Insider Buying and Selling at Greggs

In other news, insider Nigel Mills bought 925 shares of the stock in a transaction dated Friday, January 10th. The shares were acquired at an average price of GBX 2,149 ($27.94) per share, with a total value of £19,878.25 ($25,842.76). Insiders own 5.89% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Berenberg Bank dropped their target price on shares of Greggs from GBX 3,420 ($44.46) to GBX 3,250 ($42.25) and set a “buy” rating on the stock in a research report on Wednesday, March 5th.

About Greggs

Greggs is a leading UK food-on-the-go retailer with more than 2,600 shops nationwide and approximately 33,000 employees across the business.

As a food-on-the-go retailer, Greggs specialises in daily fresh shop-made sandwiches, and savouries baked fresh in the shop ovens throughout the day. These are further complemented by popular products and ranges including freshly ground coffee, breakfast, confectionery and evening menu items.