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Same here some of my other holdings are doing buybacks and I don't see much improvement. I am reinvesting dividends for a long term outcome.
Think I'll have a steak bake.
A long term hold this one, adding on dips. Especially happy with the board opting for a special dividend over buybacks. Quite a few of my other holdings with strong cash positions are buying back their shares, and to be honest, whilst I understand the concept, I’m not certain shareholders realise the true benefits. Might get myself a sausage roll for lunch to celebrate.
Agreed Skint. I buy with my eyes where I can. Never seen a quiet Greggs and it seems they managed to raise their prices nicely at the same time as growing market share. What’s not to like? Let’s see what the day brings.
Looks like a really strong update to me, but who knows what the market was already expecting.
Has GRG become “so good” that an RNS with such great numbers and a special divi of 40p - isn’t commented upon?
A great update RNS today (IMHO)
I have a decent GRG holding built up in recent years. In the new ISA year i intend to load up again
Don’t really see any downside with GRG - it is very well managed, growing, profitable, pays staff a bonus, pays special dividends, (not share buy backs) and opening new sales channels like evening, delivery, drive through and retail partners.
A key metric for me (even though i live in Sunny Glasgow) is “London potential”
Pret a Manger has 275 shops in London.
Greggs has only 40 - but expanding in key high footfall locations. And that is “high footfall” in 2024 - not busy locations pre covid. They are cherry picking and able to get great spots in London and throughout the UK.
When was the last time you saw a Greggs without a queue?
Skint
Well , hopefully not
And then buy
Yes it should be closer to £35. However, it’s the typical market reaction with selling pre news these days. Results should out perform guidance, but what will the market reaction be on the 6th March. I will be buying up on any weakness
Sell on update, look at the charts
Why the heck is drifting back down? This thing should be easily >3000
Looks like the sell off pre news
Anybody in the NE tried the new chicken burgers or wraps as they are only available in/around Newcastle at present?
Institutions controlling the share price direction
Recent history has shown a big sell off after the release of excellent news, but I’m holding to sell half for a reasonable profit at £35 and the remainder when Greggs reaches £40. Im always the optimist.
Not long to go to the trading update, i would expect a progressive divdend and out performance of their targets. Cash build will improve for 2024 with the investment in new shops and more out of shop deliveries, Inflationary pressure should also ease which should improve the EBIT.
Will this be a sell on news, or will it surprise to the upside?
Should have tried this
https://www.thesun.co.uk/fabulous/25850468/greggs-bake-tray-valentines-day-uber-eats/
No wonder this company is going from strength to strength with management like this!
I tried their limited edition cinnamon and cream topped white coffees today. Pure bliss on a cold wet day. I smiled and thought about the £35 SP, which isn't far away.
Me too.
Maverick thinks THEY want the price low to buy in , I wish THEY would want to price to get to £35 !
I don’t really understand why this share has those 2% drops out of nowhere on no news. I guess that’s the way it is these days.
In 2021 there was a special dividend that was paid, will we get the same in 2024? Strong cash position, strong cash generation, more shops, no debt
Yes, i can tell you why, they want to buy in big or increase their holding - so dont want the share price to run away
ok with me so i can build to the position i already have, its a no brainer
I’d love a more informed investor than me tell me why this just happened, apart from “ a bit of profit taking “
Seriously ... :-(
No surprise that institutions are buying up cheap stock, this is a growth stock as well as paying a nice divdend, more shops to pen, cash rishc and no debt
As many have spotted and stated on other sites, this is, in many ways, a similar looking set up to maccy da’s, low cost, in house produced on the go food, especially with a new concentration on sit in sites, offering loyalty offers, and meal deals.
Who knows where this can go.
As Greggs have plenty of cash I would like to see a small increase in the dividend as the company appears to have enough capital and credit facilities to fund new outlets as well as a dividend.