Greggs
GRG: 923.01 4.00 (▲0.44%)
| Bid Price | 923.50 | High Price | 936.03 |
|---|---|---|---|
| Ask Price | 924.50 | Low Price | 918.00 |
| Open Price | 927.00 | Spread | 0.11% |
| Prev Close | 923.50 | Volume | 140,147.00 |
Greggs Share Price Chart
Intraday
Historic – 1 year
Greggs Share Price Information
| Name | Greggs | Epic | GRG |
|---|---|---|---|
| Sector | Food & Drug Retailers | ISIN | GB00B63QSB39 |
| Activites | UK’s leading bakery retailer with over 1,200 shops nationwide. A large proportion of the business is in takeaway food – principally shop-made sandwiches and freshly-baked savoury products like pies, pasties and sausage rolls, plus sweet lines like doughnuts and drinks. The company also operate catering units through the Bakers Oven brand. The Greggs business has a Divisional structure with central bakeries around the country each supplying the shops in their surrounding areas. Bakers Oven operates a regional structure but does not have a central bakery supply route. These shops are typically supplied via in-store bakeries and have a high level of in-shop catering. | Security Type | Equity |
Key numbers
| Latest Share Price (p) | 923.50 | Net Gearing (%) | 19.53 |
|---|---|---|---|
| Market Cap (£m) | 928.11 | Gross Gearing (%) | 30.70 |
| Shares in issue (m) | 101.16 | Debt Ratio | 4.29 |
| P/E Ratio | 16.01 | Debt-to-Equity Ratio | 0.10 |
| Divs per share (p) | 28.60 | Assets / Equity Ratio | 1.44 |
| Dividend Yield (%) | 3.35 | Price to book value | 3.49 |
| Dividend Cover | 2.09 | SROCE (%) | 26.25 |
| Earning per share (p) | 57.30 | EPS Growth (%) | 53.21 |
| 52-week high / low (p) | 1,335.00 / 869.00 | DPS Growth (%) | 30.00 |
Greggs Broker Views
| Date | Broker | Rec. | Price | Old target price | New target price | Notes |
|---|---|---|---|---|---|---|
| 04 Oct | Investec | Buy | 923.01 | 1250.00 | 1225.00 | Reiterates |
| 04 Oct | Canaccord Genuity | Buy | 923.01 | 1300.00 | 1300.00 | Retains |
| 02 Aug | Peel Hunt | Buy | 923.01 | 1320.00 | 1320.00 | Reiterates |
| 02 Aug | Peel Hunt | Buy | 923.01 | 1320.00 | 1320.00 | Reiterates |
| 02 Aug | Investec | Buy | 923.01 | 1250.00 | 1250.00 | Reiterates |
Greggs Director Deals
| Date | Director | Type | Volume / Price | Trade Value |
|---|---|---|---|---|
| 12 Aug 2016 | Richard Hutton | Sell | 41170 @ 1050.00p | £432,285.00 |
| 03 Jun 2016 | Roger Whiteside | Buy | 6 @ 1111.00p | £66.66 |
| 02 Jun 2016 | Richard Hutton | Exercise | 400 @ 414.00p | £1,656.00 |
Greggs Company News
FTSE closes close to its record high
The FTSE 100 continued to rally closer to its record high from last April. The blue chip index rose 2% to 7,120 as the pound hit a 31-year low against the dollar.
The FTSE 250 broke to a new all-time high of 18,489, dismissing post-Brexit vote fears amid positive economic data, including.
Sterling slumped against the euro to €1.14.
West Texas Intermediate (WTI) crude oil rose 0.4% to $48.99 and Brent crude oil was 0.6% higher at $51.22 per barrel, respectively.
Gold dropped 2% to $1,282 per ounce and copper declined 0.2% to $4,806 per tonne.
MAIN NEWS OF THE DAY
Postal group Royal Mail (RMG) shelled out $90m to buy Golden State Overnight Delivery Service (GSO) on a debt-free, cash-free basis.
Health and safety services specialist Intertek (ITRK) sparked 5.2% after analyst Jefferies raised its rating on the stock from ‘underperform’ to ‘buy’ and increased its price target from £30 to £43.
BLUE CHIP RISERS AND FALLERS
Pharmaceuticals firm AstraZeneca (AZN) was flat after revealing its peripheral artery disease drug EUCLID failed to deliver better results than existing treatment clopidogrel.
The company also reached an agreement with US-based Aralex Pharmaceuticals to licence Toprol-XL, a cardiovascular disease treatment. Aralex said it will pay Astrazeneca $175 million upfront and sales-related payments of up to $48 million.
MID CAP RISERS AND FALLERS
Bakery retailer Greggs (GRG) fattened 0.5% to £10.51 on a trading update detailing a 2.8% rise in like-for-like sales for the 13 weeks to 1 October. CEO Roger Whiteside said Greggs was on track to meet full year forecasts, flagged progress with shop refurbishments and was upbeat about the autumn/winter menu.
SMALL CAP RISERS AND FALLERS
Investors raised a glass to biotech firm Summit Therapeutics (SUMM), which soared 93.5% to 252.5p after entering an exclusive agreement with Sarepta Therapeutics.
Shares in Anglo African Agriculture (AAAP) were 20% higher at 1.35p after starting work to triple the production capacity of its spices manufacturing facilities in South Africa.
Marketing services group St Ives (SIV) climbed 9.8% despite swinging from a profit of £8.7m to a loss of £5.7m as revenue rose by 7% to £ £367.5m in the year to 29 July.
Journey (JNY) said it is in discussion with Jaguar Holdings concerning a possible takeover by the company.
A profit warning caused Quantum Pharma (QP.) to crash 47.8% to 36.5p. Its operating profit fell by more than 50% from £2.8m to £0.8m and the firm speculated its performance will be materially below expectations.
Investors were unhappy with Digital Globe Services’ (DGS) recommendation not to pay a final dividend, resulting in a lower dividend compared to the prior financial year. Shares declined 16.3% to 38.5p.
Trading business Trifast (TRI) was in positive territory on a positive trading update, which flagged the TR business on track concerning organic growth performance and a benefit from a tailwind arising from the weakness of Sterling.
Sofas and carpets seller ScS (SCS) plumped 3% after swinging to pre-tax profit due to ‘significant growth across all areas of the group’ for the year to July, with orders up 14.8%.
Technology solutions provider Milestone (MSG) signed a co-operation agreement with the Social Stock Exchange to generate revenue, build membership and raise the profile of both organisations.
Story provided by StockMarketWire.com
Broker Forecast – Investec issues a broker note on Greggs PLC
Investec today reaffirms its buy investment rating on Greggs PLC (LON:GRG) and cut its price target to 1225p (from 1250p).
Story provided by StockMarketWire.com
FTSE 250 reaches all-time high
FTSE 100 stocks rallied through the 7,000 mark for only the second time in the history of the index, which hit all-time highs early last year, following solid gains across Asia and Australasia overnight.
Only six blue chip stocks slid lower by up to 0.9%.
The FTSE 250 broke to a new all-time high of 18,435, dismissing post-Brexit vote fears.
Sterling remained weak against the dollar at $1.27 and slumped against the euro to €1.14.
West Texas Intermediate (WTI) crude oil slipped 0.5% to $48.57 and Brent crude oil slumped 0.5% to $50.65 per barrel, respectively.
Gold cheapened to $1,307 per ounce and copper declined 0.9% to $4,762 per tonne.
MAIN NEWS OF THE DAY
Health and safety services specialist Intertek (ITRK) rose 4.4% to £36.98 after analyst Jefferies raised its rating on the stock from ‘underperform’ to ‘buy’ and increased its price target from £30 to £43.
BLUE CHIP RISERS AND FALLERS
Pharmaceuticals firm AstraZeneca (AZN) was flat after it revealed its peripheral artery disease drug EUCLID failed to deliver better results than existing treatment clopidogrel.
AstraZeneca also said it reached an agreement with US-based Aralex Pharmaceuticals to licence Toprol-XL, a cardiovascular disease treatment. Aralex said it will pay Astrazeneca $175 million upfront and sales-related payments of up to $48 million.
MID CAP RISERS AND FALLERS
Bakery retailer Greggs (GRG) fattened 2.2% to £10.69 on a trading update detailing a 2.8% rise in like-for-like sales for the 13 weeks to 1 October. CEO Roger Whiteside said Greggs was on track to meet full year forecasts, flagged progress with shop refurbishments and was upbeat about the autumn/winter menu.
SMALL CAP RISERS AND FALLERS
Marketing services group St Ives (SIV) climbed 6.5% despite swinging from a profit of £8.7m to a loss of £5.7m as revenue rose by 7% to £ £367.5m in the year to 29 July.
Journey (JNY) said it is in discussion with Jaguar Holdings concerning a possible takeover by the company.
Quantum Pharma (QP.) crashed 50.9% to 34.38p as its operating profit fell by more than 50% from £2.8m to £0.8m.
Investors were unhappy with Digital Globe Services’ (DGS) recommendation not to pay a final dividend, resulting in a lower dividend compared to the prior financial year. Shares declined 17.4% to 38p.
Trading business Trifast (TRI) was in positive territory on a positive trading update, which flagged the TR business on track concerning organic growth performance and a benefit from a tailwind arising from the weakness of Sterling.
Sofas and carpets seller ScS (SCS) plumped 2.8% after swinging to pre-tax profit due to ‘significant growth across all areas of the group’ for the year to July, with orders up 14.8%.
Technology solutions provider Milestone (MSG) signed a co-operation agreement with the Social Stock Exchange to generate revenue, build membership and raise the profile of both organisations.
Story provided by StockMarketWire.com
Greggs on track
Greggs continued to trade in line with its expectations in the third quarter.
In the 13 weeks to 1 October total sales grew by 5.6 per cent (2015: 5.0 per cent) and like-for-like sales in company-managed shops increased by 2.8 per cent (2015: 4.9 per cent), in line with our expectations.
Total sales have grown by 5.6 per cent in the year-to-date and like-for-like sales have increased by 3.4 per cent.
Greggs says the popularity of its summer menu including an extended range of Balanced Choice salads and yoghurts supported sales growth in the period. It also saw continued strong growth at breakfast time, helped by its coffee offer and value deals.
An update says: “In the year-to-date we have completed 145 shop refurbishments and are on track to refurbish around 200 shops this year. We have also opened 103 new shops, including 41 franchised units predominantly in transport locations. We have closed 58 shops, giving a total of 1,743 shops trading at 4 October (comprising 1,600 of our own shops and 143 franchised units).
“The pipeline of new shop locations remains good and for the year as a whole we still expect to open 140-150 shops and close circa 70-80, a net increase of around 70.
“We have now launched our autumn/winter menu which includes new lower-calorie Balanced Choice bakes and soups along with a range of new snacks with gluten-free options. Chipotle Pulled Beef, Fiery Pulled Chicken and Onion Bhaji burritos are exciting new additions to our successful hot sandwich range.
“We are making good progress with the first stages of our supply chain investment plan. The work to facilitate our new distribution centre in Enfield is now finished and the site will be brought into operation in the coming weeks. As a result we will complete the previously-announced closure of our Twickenham bakery in November.
“Given trading to date and the outlook, our expectations for the full year outturn remain unchanged. As we look to next year, whilst we anticipate some general industry-wide cost pressures, we expect to make further progress against our strategic plan.”
Story provided by StockMarketWire.com
FLASH: Greggs on track
Story provided by StockMarketWire.com
