Greggs Share Discussion Threads

[philanderer] 18/6/2024 09:17

Greggs is cooling down, says Peel Hunt


Peel Hunt is wary of the growth opportunity at Greggs (GRG) after a site tour with the high-street baker.

Analyst Jonathan Pritchard reiterated his ‘hold’ recommendation and target price of £27 on the Citywire Elite Companies A-rated baker, which climbed 1.7% to £28.58 on Monday.

The tour gave Pritchard ‘a clear indication of the supply chain constraints Greggs faces as it grows, and management presented its solution – a push towards centralised distribution’.

Pritchard questioned whether the ambitious plan to have 3,500 stores is a stretch and wondered whether ‘we are close to hitting peak Greggs’.

‘With franchises increasing in the mix, we reflect on its incremental profitability, forecasting a slowdown into full-year 2028,’ he said.

‘Despite the successful growth post-Covid, we are wary of the remaining white space opportunity. The valuation is relatively high at 22 times price to earnings and we stick to our bottom-of-the-range view for full-year 2024-2026, expecting profit growth to taper in full-year 2028.’


citywire.com

[philanderer] 10/6/2024 23:22

'Greggs to build state-of-the-art frozen production site in Derby'



The site in Spondon is expected to be operational in late 2026 and will provide additional manufacturing capacity for sweet and savoury products

[waldron] 10/6/2024 17:31

atest Dividends

Summary Previous dividend Next dividend

Status Paid Forecast

Type Special Interim

Per share 40p Sign Up Required

Declaration date 05 Mar 2024 (Tue) 30 Jul 2024 (Tue)

Ex-div date 25 Apr 2024 (Thu) 05 Sep 2024 (Thu)


Pay date 24 May 2024 (Fri) 04 Oct 2024 (Fri)

[waldron] 10/6/2024 07:32

Analysts' Consensus

Mean consensus
BUY

Number of Analysts
13

Last Close Price
28.5 GBP

Average target price
32.28 GBP
Spread / Average Target
+13.25%

High Price Target
40 GBP
Spread / Highest target
+40.35%

Low Price Target
26 GBP
Spread / Lowest Target
-8.77%

[philanderer] 01/6/2024 09:35

Wilko has launched a new service across some of its stores with plans for further rollouts across the country.

As part of a trial, the retailer has added food freezers, usually found in The Ranges stores, to two of its Wilko sites. The freezers have been stocked with a range of Iceland supermarket food products, including TGI Fridays, Greggs and Slimming World. The high street retailer has now confirmed that more branches will start selling frozen food as it expands its offerings to customers.

Daily Mirror

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Greggs fans are being offered a special treat at selected stores next week - a giant "yard long" sausage roll box.

But any customers wanting to buy the 3ft box will need to be quick as it will be on sale for one day only. Greggs is launching the huge bakery favourite for National Sausage Roll Day on Wednesday, June 5.

[philanderer] 28/5/2024 23:06

Northern Echo reporter tries Greggs new fish finger sandwich

[octavio] 24/5/2024 07:22

Mmmm Dividend payment day!

[philanderer] 16/5/2024 09:16

Redburn starts Greggs with 'buy' - price target 3,280 pence

[philanderer] 15/5/2024 12:29

Berenberg cuts Greggs price target to 3,340 (3,390) pence - 'buy'

[blackhorse23] 15/5/2024 09:46

BIG NEWS: Greencore Group (UK, 0386410) will be added to the FTSE 250 Index and deleted from the FTSE SmallCap Index. All changes are effective from 16 May 2024. Full details of index changes available on the FTSE Russell website.

[philanderer] 14/5/2024 12:06

(Sharecast News)


- Shore Capital has maintained a 'hold' rating on Greggs despite a strong start to the year from the bakery chain, saying that the shares look "up with events for now".

The company delivered "yet another strong trading update" on Monday, according to Shore Capital, reporting a 7.4% increase in like-for-like sales in the first 19 weeks of 2024 - though momentum did ease slightly in the latter nine weeks with LFL sales rising 6.6%.

What's more, the company's estate continues to built out with substantial investment, with 64 new shops opening during the period, taking the total estate to 2,500 stores.

However, the stock trades at a price-to-earnings ratio (PER) of 21 on 2024 estimates, which Shore Capital said was "quite fulsome", especially when compared with the wider FTSE 100 and UK consumer-focused competitors.

The valuation is "up with events for now and, looking at the sideways trajectory of the share, so does the market too," the broker said.

The stock was down 1.6% at 2,774p by 1031 BST, having traded within a tight range off 2,700p to 2,900p for the past three months.

"Substantial growth is planned, as evidenced by the major aforementioned investment programme, which should help to compress those equity valuation metrics in time; an FY26 PER of c17.2x, which is still attractive, is forecast," Shore Capital said.

"However, in the here and now, we not changing our neutral rating on Greggs stocks, noting quite sustained sideways movement and recent relative underperformance as UK stocks have edged off their undeserved lows."

[hopefulalways] 14/5/2024 09:06

..... and yet the city doesn't like it

[philanderer] 14/5/2024 08:31

Solid update.

[octavio] 14/5/2024 06:06

hxxps://files.q4europe.com/news-pdf/1514/Greggs_16098125.pdf

[philanderer] 09/5/2024 15:04

Yes. it's weird.


Greggs hits new milestone with 2,500 shops,

[toffeeman] 09/5/2024 09:26

So if their target is 2600 they are saying sell!

[philanderer] 09/5/2024 09:06

Deutsche Bank starts Greggs with 'hold' - price target 2,600 pence

[skinny] 26/4/2024 10:25

FWIW :- Berenberg cuts Greggs price target to 3,390 (3,550) pence - 'buy'

[skinny] 23/4/2024 08:45

Greggs plc, a leading UK food-on-the-go retailer, will announce its first quarter trading update on Tuesday 14 May 2024.

[octavio] 16/4/2024 08:09

Here we go again - up 40p yesterday and down 36p today currently!

We just need an excuse to justify the fall - How about a potential war?