Greene King plc (GNK) PT Lowered to GBX 1,050 at Panmure Gordon

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Greene King plc (LON:GNK) had its price objective cut by analysts at Panmure Gordon from GBX 1,090 ($14.52) to GBX 1,050 ($13.99) in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the stock. Panmure Gordon’s price target would suggest a potential upside of 35.48% from the stock’s previous close.
Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Greene King plc in a research note on Monday, August 22nd. Deutsche Bank AG reiterated a “buy” rating and issued a GBX 950 ($12.65) price objective on shares of Greene King plc in a research note on Monday. Barclays PLC reiterated an “overweight” rating and issued a GBX 990 ($13.19) price objective on shares of Greene King plc in a research note on Monday. Beaufort Securities reiterated a “buy” rating on shares of Greene King plc in a research note on Monday. Finally, Shore Capital restated a “buy” rating on shares of Greene King plc in a research report on Wednesday, June 29th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Greene King plc has an average rating of “Buy” and an average target price of GBX 995.33 ($13.26).
Shares of Greene King plc (LON:GNK) traded up 1.71% during trading on Thursday, reaching GBX 775.00. 1,313,476 shares of the company’s stock were exchanged. The stock’s market cap is GBX 2.40 billion. The stock’s 50 day moving average price is GBX 808.27 and its 200-day moving average price is GBX 835.24. Greene King plc has a 52-week low of GBX 719.49 and a 52-week high of GBX 985.00.

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The firm also recently announced a dividend, which was paid on Monday, September 12th. Shareholders of record on Thursday, August 11th were issued a dividend of GBX 23.60 ($0.31) per share. This represents a yield of 2.97%. This is a positive change from Greene King plc’s previous dividend of $8.45. The ex-dividend date was Thursday, August 11th.
In other Greene King plc news, insider Weedall,Lynne acquired 1,000 shares of the stock in a transaction on Wednesday, July 6th. The shares were purchased at an average price of GBX 721 ($9.60) per share, for a total transaction of £7,210 ($9,603.09). Also, insider Yea,Philip acquired 10,000 shares of the stock in a transaction on Tuesday, July 5th. The shares were acquired at an average price of GBX 747 ($9.95) per share, for a total transaction of £74,700 ($99,493.87).
About Greene King plc
Greene King plc is a United Kingdom-based pub and brewing company. The Company is engaged in operating over 3,000 managed, tenanted, leased and franchised pubs, restaurants and hotels, and brewing ales. The Company operates through three segments: Retail, which is engaged in the operation of managed pubs and restaurants; Pub Partners, which is engaged in the operation of tenanted and leased pubs, and Brewing & Brands, which is involved in brewing, marketing and selling beer.

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