George Weston (TSE:WN) Given a C$134.00 Price Target by Canadian Imperial Bank of Commerce Analysts

Key Points

• Canadian Imperial Bank of Commerce assigned George Weston a C$134.00 price target and an “outperformer” rating, implying 22.12% upside from the prior close.
• BMO Capital Markets also upgraded the stock to “outperform” and raised its target to C$113.00; analysts’ consensus rating is “Moderate Buy,” with an average target of C$115.83.
• George Weston reported quarterly revenue of C$15.20 billion and earnings of C$1.08 per share, while insiders have sold 70,000 shares worth approximately C$7.02 million over the past 90 days.

George Weston (TSE:WN - Get Free Report) received a C$134.00 target price from stock analysts at Canadian Imperial Bank of Commerce in a report issued on Thursday, BayStreet reports. The firm currently has an "outperformer" rating on the stock. Canadian Imperial Bank of Commerce's price objective would suggest a potential upside of 22.12% from the stock's previous close.

Separately, BMO Capital Markets raised shares of George Weston from a "hold" rating to an "outperform" rating and increased their target price for the stock from C$103.00 to C$113.00 in a report on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, George Weston currently has a consensus rating of "Moderate Buy" and a consensus price target of C$115.83.

George Weston Stock Performance

TSE:WN traded up C$1.74 during mid-day trading on Thursday, hitting C$109.73. 519,471 shares of the company traded hands, compared to its average volume of 317,152. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 438.92. The stock's fifty day moving average price is C$101.04 and its 200-day moving average price is C$100.38. The firm has a market cap of C$41.06 billion, a price-to-earnings ratio of 43.03, a price-to-earnings-growth ratio of 5.03 and a beta of 0.22. George Weston has a one year low of C$83.18 and a one year high of C$111.49.

George Weston (TSE:WN - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported C$1.08 EPS for the quarter. George Weston had a return on equity of 20.42% and a net margin of 1.59%. The firm had revenue of C$15.20 billion for the quarter. Research analysts anticipate that George Weston will post 13.02 earnings per share for the current fiscal year.

Insider Buying and Selling at George Weston

In related news, insider Richard Dufresne sold 20,000 shares of the company's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of C$98.56, for a total value of C$1,971,200.00. Following the completion of the transaction, the insider owned 19,911 shares of the company's stock, valued at approximately C$1,962,428.16. This represents a 50.11% decrease in their position. In the last 90 days, insiders have sold 70,000 shares of company stock worth $7,017,600. 59.41% of the stock is currently owned by insiders.

About George Weston

George Weston is a holding company that operates through two subsidiaries encompassing retail and real estate. The first is Loblaw, the largest grocer in Canada, in which it has a 53% controlling stake. The second is Choice Properties, an open-ended real estate investment trust, where George Weston's ownership sits close to 62%. The company sold Weston Foods, a North American bakery, in early 2022, which the firm had previously wholly owned. While the two remaining entities are separate, they operate under a contractual, as well as tacit, framework of strategic business partnerships.

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