Empire Company Limited (TSE:EMP.A) Director Sells C$2,541,541.86 in Stock

Empire Company Limited (TSE:EMP.A - Get Free Report) Director Michael Bennett Medline sold 45,474 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of C$55.89, for a total transaction of C$2,541,541.86.

Michael Bennett Medline also recently made the following trade(s):

• On Friday, June 20th, Michael Bennett Medline sold 44,508 shares of Empire stock. The stock was sold at an average price of C$55.19, for a total transaction of C$2,456,396.52.

Empire Trading Up 0.8%

TSE:EMP.A traded up C$0.43 during trading hours on Friday, hitting C$56.13. The stock had a trading volume of 415,926 shares, compared to its average volume of 485,636. Empire Company Limited has a one year low of C$34.43 and a one year high of C$56.80. The company has a market cap of C$7.88 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 16.20 and a beta of 0.48. The company has a debt-to-equity ratio of 135.51, a quick ratio of 0.29 and a current ratio of 0.79. The business's 50 day moving average is C$51.67 and its 200-day moving average is C$46.93.

Empire Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 30th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Tuesday, April 15th. Empire's dividend payout ratio is currently 29.20%.

Analysts Set New Price Targets

Several research analysts have recently commented on EMP.A shares. TD Securities boosted their target price on Empire from C$48.00 to C$58.00 and gave the stock a "hold" rating in a report on Friday, June 20th. Royal Bank Of Canada increased their price objective on shares of Empire from C$56.00 to C$61.00 and gave the stock a "sector perform" rating in a report on Friday, June 20th. CIBC upped their price target on Empire from C$55.00 to C$59.00 in a research note on Friday, June 20th. Desjardins upped their target price on shares of Empire from C$50.00 to C$55.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Finally, Scotiabank lifted their price target on shares of Empire from C$49.00 to C$62.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of C$57.43.

Empire Company Profile

Empire Co Ltd key businesses are food retailing, investments, and other operations. The food retailing division operates through Empire's subsidiary Sobeys and represents nearly all of the company's income. This segment owns, affiliates, or franchises more than 1,500 stores in 10 provinces, under retail banners including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, Lawton's Drug Stores, and multiple retail fuel locations.

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