Greggs Share Discussion Threads

[philanderer] 03/10/2019 12:15

Another rough day 7 up / 20 down :-S

[bouleversee] 02/10/2019 17:04

...and that didn't last long, did it?

[philanderer] 02/10/2019 12:20

Just GRG and PZC in the blue for my lot so far today.

[philanderer] 02/10/2019 09:27

Greggs to serve up more growth, says Fidelity


Brexit woes may have hit the shares but high street baker Greggs (GRG) is on track to serve up another year of growth, according to Fidelity Personal Investing.

Analyst Emma-Lou Montgomery said the bakery chain was ‘on a roll and very much on track for a strong year’ despite sales growth slowing in the third quarter on the back of tough comparatives and a Brexit-related increase in input costs.

‘Greggs says it continues to build stores of key ingredients and equipment to ensure its operations aren’t disrupted,’ she said.

‘This is a company that has its costs under control and its plans in the pipeline, ready to serve up another year of growth.’

[philanderer] 01/10/2019 21:04

Market report:

Analysts at UBS said the growth was in-line with expectations that Greggs could maintain around 10% two-year "LFL growth stack" and so they continue to forecast full year LFL growth of 8%.

Recommending Tyneside locals should "look out for the sausage meat mounds" as the company prepares for Brexit, Clive Black at Shore Capital added that "Greggs is, unlike Mike Ashley’s Newcastle United, sadly, the deserved pride of Newcastle".

However, he said, no doubt like the rest of the retail, food manufacturing and food & beverage segments, "there will have been a cold chill" around the proposed changes to minimum wage announced at the Tory party conference.

All in all, Black said: "The group has re-invented itself quite marvellously, becoming more relevant to a broader client base through product, reducing its dependence upon salt, sugar and saturated fat, to evolve a more relevant and sustainable proposition that is a) tasty, b ) strong in net value and c) sit down or take-out."

The analyst said the stock's "deservedly fulsome" multiples "do bring with them the downside risk of disappointment".

proactiveinvestors.co.uk

[turvart] 01/10/2019 20:00

This is a good business, I visit different cities in the UK on weekends and Greggs is always busy, I’ve just done some research looking at the fundamentals and it looks way overpriced to me, today’s trading update was positive though but I still IMO think Grg is overpriced.

[bouleversee] 01/10/2019 19:40

I looked it up and it doesn't sound as though it will have any particular impact on tomorrow's price.

[davr0s] 01/10/2019 19:14

It's the closing uncrossing trade - don't read too much into it

[bouleversee] 01/10/2019 19:03

I've just remembered it is short for uncrossed trade but I'm afraid I can't remember what that means. I'll google it.

[bouleversee] 01/10/2019 19:02

Philanderer -

I hadn't seen your post when I posted mine. So what does UT mean and what is the significance of that large trade and its bearing on tomorrow's opening price?

[bouleversee] 01/10/2019 18:31

I've just had a look at HL's website and they have a whole string of deals after 4.30,
one being a sale of 121671 @ 1828p (£2,224,145.88)- gulp! Then there were several relatively small buys at higher prices up to 2119.82p. Very strange! Doesn't look as though I'll get my daughter's top up bought at anywhere near the price of her brother's.

Or are you suggesting that these are historic dealings which have just been reported. I don't understand how that works. Are they perhaps to do with onternal transfers for staff bonuses? I ought to sign up for the RNS notices and perhaps have a look at the London Stock Exchange after supper.

[philanderer] 01/10/2019 18:25

The UT was the only trade carried out after the 16:30 close.... 121,671 @ 1828p printed at 16:35:27

Anything printed after that were late reported 'o' trades carried out earlier in the day.

[this_time_its_different] 01/10/2019 17:53

I don't think the london stock exchange has after hours trading, it may be orders executed off exchange being reported (dark pools).

[this_time_its_different] 01/10/2019 17:41

Shares can keep dropping, usually a 3 day rule is a good rule. However since we dropped so much, I'm sure we will bounce sooner or later. It's going to be a slow crawl back to £20 and an even slower one back to £24. 10 years down the line, if you make 6-7 times your money you are laughing.

[this_time_its_different] 01/10/2019 17:40

bouleversee, these are a 10 year plus hold for many, when you are holding 10 years plus, buying at £18 or buying at £21 will make little difference. It's only those day traders who worry about the pennies, for most of it's buy and forget about it. Collect the divi and sit on our a-r-s-e.

[bouleversee] 01/10/2019 17:35

I bought my son's shares immediately before close so who was able to buy after that, driving the price up a few pence? Would that have been the market makers in an auction? If so, that must be a good sign, isn't it or are they just covering buy orders already received?

[philanderer] 01/10/2019 17:22

Maybe a few points more to come off early tomorrow if there are any broker downgrades out. May be the time to add a few.


Greggs further developing its evening meals offer

[bouleversee] 01/10/2019 17:16

I picked up some for my son at £18.27 and it seems to have turned the corner at that point, for the moment anyway. I noticed that the spread seemed to vary a lot at different times of the day and on different platforms. It will be interesting to see what tomorrow brings though 3 hr lung function tests will provide a distraction for much of the day.

[this_time_its_different] 01/10/2019 16:28

£24 to £15, surely that is not normal for this recession proof stock.

[philanderer] 01/10/2019 16:23

Here comes the 1800p test...if it goes chart says 1550p next support.

[bouleversee] 01/10/2019 15:55

Extraordinary. Is there a lot of shorting going on? I just don't understand why that report should have produced this on top of the previous fall. One of these days I'll learn to sell out at a high instead of falling in love with those who have treated me well and buying more.

[shanklin] 01/10/2019 15:52

I like GRG a lot but not sure it merits a share price above £16.00. Even at the current share price its on a rolling forward 1 yr P/E of over 20.

[this_time_its_different] 01/10/2019 15:40

What a violent pull back, never would have thought I would see Greggs down double digits.