Empire (TSE:EMP.A) Stock Crosses Above 200-Day Moving Average - Should You Sell?

Empire Company Limited (TSE:EMP.A - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$44.11 and traded as high as C$51.34. Empire shares last traded at C$51.07, with a volume of 199,809 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Scotiabank raised Empire from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from C$47.00 to C$49.00 in a research report on Friday, March 14th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Empire currently has an average rating of "Hold" and a consensus price target of C$48.86.

Empire Trading Down 0.3%

The company has a market capitalization of C$7.11 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 16.20 and a beta of 0.48. The company has a 50 day simple moving average of C$47.57 and a 200 day simple moving average of C$44.40. The company has a debt-to-equity ratio of 135.51, a quick ratio of 0.29 and a current ratio of 0.79.

Empire Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 30th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.58%. Empire's payout ratio is currently 29.20%.

Insider Transactions at Empire

In related news, Senior Officer Pierre St-Laurent sold 5,354 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of C$44.96, for a total value of C$240,715.84. Also, Senior Officer Simon Gagne sold 12,269 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of C$48.22, for a total value of C$591,611.18. Insiders sold 20,459 shares of company stock valued at $961,651 over the last 90 days. 2.18% of the stock is currently owned by corporate insiders.

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.