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GRG Greggs Plc

8.00 (0.33%)
Last Updated: 16:04:39
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Greggs Plc LSE:GRG London Ordinary Share GB00B63QSB39 ORD 2P
  Price Change % Change Share Price Shares Traded Last Trade
  8.00 0.33% 2,450.00 72,637 16:04:39
Bid Price Offer Price High Price Low Price Open Price
2,448.00 2,452.00 2,456.00 2,428.00 2,428.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Bakeries-retail 1.51B 120.3M 1.1765 20.84 2.51B
Last Trade Time Trade Type Trade Size Trade Price Currency
16:14:45 O 57 2,452.00 GBX

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Posted at 05/12/2023 08:20 by Greggs Daily Update
Greggs Plc is listed in the Bakeries-retail sector of the London Stock Exchange with ticker GRG. The last closing price for Greggs was 2,442p.
Greggs currently has 102,254,826 shares in issue. The market capitalisation of Greggs is £2,507,288,334.
Greggs has a price to earnings ratio (PE ratio) of 20.84.
This morning GRG shares opened at 2,428p
Posted at 06/11/2023 14:10 by waldron
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Posted at 04/10/2023 09:15 by essentialinvestor
Update could not have been much better, but about everything getting cheeper atm and GRG still retains a premium rating.
Posted at 04/10/2023 09:05 by philanderer
Berenberg raises Greggs price target to 3,550 (3,440) pence - 'buy'
Posted at 03/10/2023 09:15 by philanderer

‘Greggs remains a business with considerable ambition to grow its business, which we like, noting confidence in this statement for the 2024 opening programme,’ commented Shore Capital’s head of research Clive Black.

‘We believe the stock merits a premium equity rating, and that is what the market is affording the equity. Whilst there is much to admire about the business and its investment thesis, we feel a 2023 price to earnings ratio of 20.1 times, falling to 18.1 times in 2024, a ratio of 11.1 times 2023 EV/EBITDA (enterprise value to earnings before interest, tax, depreciation and amortisation), noting a negative medium-term free cash flow yield, with a dividend yield of 2.4%, represent full and fair value,’ added Black.

Greggs is ‘in a sweet spot in the retail market, backed by its growth initiatives and good cost management’, observed Russell Pointon from research group Edison.

‘The Q3 results reaffirm its resilience and share gains. Expanding its shop estate and investing in the supply chain further reinforce its market presence, albeit there may be some disappointment about the slightly lower than expected net new store growth for the full year

‘While some economic uncertainties persist, Greggs' consistent delivery of strong results, along with its reputation for customer satisfaction and affordability, bodes well for its future.’
Posted at 29/8/2023 13:58 by philanderer
SVM’s Lawson backs innovative Greggs

High street baker Greggs (GRG) continues to innovate and SVM’s Margaret Lawson says it could eventually expand outside the UK.

Lawson holds the Citywire Elite Company in her £89m SVM UK Growth fund, which she manages with Neil Veitch.

Lawson said that the group has evolved over the past decade into a mass-market operation, adding that ‘delivering a healthy return on capital employed is a key element of Greggs’ performance management’.

‘Greggs continues to innovate though it is careful to make gradual moves in re-formulating its best sellers to reduce sugar, fats, and salt, helping to achieve healthier recipes,’ she said.

‘New additions to the menu are carefully tested before launch. The Greggs App already has a good participation rate, helping to drive increased customer loyalty.’

The company has strong branding and a reputation for value and ‘there is potential for increasing its presence in London’.

‘In time Greggs might also consider expanding beyond the UK,’ said Lawson.

Overall, cost inflation now appears to be easing, but ‘the challenge for investors is that Greggs shares have been highly rated, anticipating growth’.

‘However, that premium is now more realistic, at a time when Greggs growth is accelerating,’ Lawson said.

The shares gained 1.3%, or 30p, to £24.34 on Friday.
Posted at 20/8/2023 08:18 by adamb1978

I've looked at GRG before and managed to miss what has been a great investment. Generates high ROCE too, which is always a good starting point. Questioning though what scope it has to grow more in the UK *in terms of footprint*, leaving them to either grow revenue per customer or grow internationally...both of which are harder than just opening more shops.

From data points I found:

- Greggs has 2,300 outlets. There's 438 towns with >20k people in the UK and c.80 cities (I assume towns much smaller than 20k are often too small for a Greggs). Obviously it will have multiple outlets in cities, and from what I read, in the 10 cities where it has the most locations it has 238 in total. That seems a high number of outlets already or that most decent sized places are covered

- It has 800 more locations than MacDonalds in the UK and 1000 more locations than Starbucks...and those two seem everywhere.

I see GRG has opened a couple places in Belgium, but am I missing anything about the number of shops it has in the UK? I can't see that it much more scope to open many more.

Posted at 07/8/2023 14:46 by essentialinvestor
Bought a few on Friday following the post results drop.

Agree the share price had got a little ahead of itself, results read well.
Not an easy backdrop over the last few years and GRG have continued to deliver - pun intended.
Posted at 04/10/2022 13:30 by kalai1
Greggs issued a Q3 Trading Update this morning titled, “Trading in line and full year expectations unchanged”. So business continues to grow solidly, consensus FY23 revenue expectations are for £1,417m which would equate to growth of about 15% on the year. Certainly total sales for the 13 weeks to 1 October 2022 were up 14.6% with 90 net new shops opened year-to-date. Management continue to expect around 150 net shop openings in 2022, there has been no change in the cost inflation outlook for the year. Valuation is now looking pretty reasonable again following a halving of the share price in 2022, forward PE ratio at 14.3x is average for the sector, GRG has traded on multiples over 20x for extended periods over the past 5 years. There is reasonable growth, with reasonable profits and at a reasonable price here. The weakening macro environment and lack of momentum are the main clouds, share price remains in a correction for now. Other than that, GRG is a solid, growing and profitable food retailer worth owning at some point. Monitor for now...

...from WealthOracle

Posted at 29/9/2020 08:42 by essentialinvestor
As the GRG share price was near £17 at the time of that post bergster,

I'm surprised you were "topping up" if you anticipated £6.
Posted at 29/7/2020 12:41 by essentialinvestor
Phil, would agree with the quality definitely.

The issue is valuation, it's selling on well over 30x 2021 FY earnings estimates-
and those estimates assume no further lockdown (at least that's how I read it).

Just 2 years ago the GRG share price was under £11 a share, in August 2018.

It got down to approx £10.25 a share that month, 2 years ago.

Some are looking at the parabolic spike over £20 and's a bargain.

But we are in a completely different environment now.
Greggs share price data is direct from the London Stock Exchange

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