Greggs plc (LON:GRG) Insider Richard Hutton Sells 65,000 Shares of Stock

Greggs plc (LON:GRG) insider Richard Hutton sold 65,000 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of GBX 2,851 ($37.31), for a total transaction of £1,853,150 ($2,425,271.56).

Greggs Stock Performance

Shares of GRG opened at GBX 2,854 ($37.35) on Friday. Greggs plc has a 1 year low of GBX 2,244 ($29.37) and a 1 year high of GBX 3,250 ($42.53). The stock has a market capitalization of £2.90 billion, a PE ratio of 2,129.85, a PEG ratio of 3.39 and a beta of 1.43. The company has a debt-to-equity ratio of 66.19, a quick ratio of 0.88 and a current ratio of 0.80. The stock has a 50-day simple moving average of GBX 3,098.18 and a 200-day simple moving average of GBX 2,922.73.

Greggs Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, October 4th. Investors of record on Thursday, September 5th were paid a GBX 19 ($0.25) dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a yield of 0.65%. Greggs’s dividend payout ratio is currently 4,850.75%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Berenberg Bank upped their target price on shares of Greggs from GBX 3,340 ($43.71) to GBX 3,600 ($47.11) and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Shore Capital restated a “hold” rating on shares of Greggs in a research note on Tuesday, September 10th.

Greggs Company Profile

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.