Empire Company Limited (TSE:EMP.A - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$43.07 and traded as high as C$46.90. Empire shares last traded at C$46.40, with a volume of 448,274 shares trading hands.
Wall Street Analyst Weigh In
Separately, Scotiabank upgraded Empire from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from C$47.00 to C$49.00 in a report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of C$48.86.
Check Out Our Latest Report on Empire
Empire Stock Up 0.6 %
The firm has a market capitalization of C$6.86 billion, a PE ratio of 17.84, a P/E/G ratio of 16.20 and a beta of 0.48. The stock has a 50-day simple moving average of C$45.20 and a 200-day simple moving average of C$43.25. The company has a quick ratio of 0.29, a current ratio of 0.79 and a debt-to-equity ratio of 135.51.
Empire Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 30th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Tuesday, April 15th. Empire's dividend payout ratio is currently 29.20%.
Insiders Place Their Bets
In other news, Senior Officer Matthew Reindel sold 767 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of C$44.11, for a total transaction of C$33,832.37. Also, Senior Officer Simon Gagne sold 12,269 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of C$48.22, for a total transaction of C$591,611.18. Insiders sold 20,459 shares of company stock worth $961,651 over the last quarter. 2.18% of the stock is currently owned by company insiders.
Empire Company Profile
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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.
Further Reading
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