HSBC Cuts Greene King plc (GNK) Price Target to GBX 830

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Greene King plc (LON:GNK) had its price objective dropped by equities researchers at HSBC from GBX 870 ($11.59) to GBX 830 ($11.05) in a research report issued on Monday. The brokerage presently has a “hold” rating on the stock. HSBC’s target price indicates a potential upside of 6.21% from the stock’s current price.
Other analysts have also issued research reports about the company. Canaccord Genuity reiterated a “buy” rating and issued a GBX 1,100 ($14.65) target price on shares of Greene King plc in a research note on Tuesday, April 26th. JPMorgan Chase & Co. reissued an “overweight” rating and set a GBX 950 ($12.65) price target (down previously from GBX 1,050 ($13.99)) on shares of Greene King plc in a research report on Thursday, June 30th. Shore Capital reissued a “buy” rating on shares of Greene King plc in a research report on Wednesday, June 29th. Deutsche Bank AG reissued a “buy” rating and set a GBX 1,175 ($15.65) price target on shares of Greene King plc in a research report on Wednesday, June 29th. Finally, Barclays PLC reissued an “overweight” rating and set a GBX 990 ($13.19) price target on shares of Greene King plc in a research report on Thursday, June 30th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Greene King plc presently has a consensus rating of “Buy” and an average price target of GBX 995.33 ($13.26).
Greene King plc (LON:GNK) opened at 781.50 on Monday. Greene King plc has a 12 month low of GBX 719.49 and a 12 month high of GBX 985.00. The stock’s market cap is GBX 2.42 billion. The firm has a 50-day moving average price of GBX 807.78 and a 200-day moving average price of GBX 834.87.

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The company also recently disclosed a dividend, which was paid on Monday, September 12th. Stockholders of record on Thursday, August 11th were paid a GBX 23.60 ($0.31) dividend. This represents a dividend yield of 2.97%. This is a boost from Greene King plc’s previous dividend of $8.45. The ex-dividend date was Thursday, August 11th.
In other news, insider Weedall,Lynne acquired 1,000 shares of Greene King plc stock in a transaction dated Wednesday, July 6th. The stock was purchased at an average cost 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 Greene King plc stock in a transaction dated Tuesday, July 5th. The stock was purchased at an average price of GBX 747 ($9.95) per share, with a total value 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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