George Weston (TSE:WN) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• George Weston Limited's stock has recently traded above its 200-day moving average of C$248.63, reaching a peak of C$266.81.
• Analysts have raised their price targets for George Weston, with a consensus rating of "Moderate Buy" and an average target price of C$287.75.
• Insider transactions indicate significant activity, with company executives selling a total of C$12.7 million worth of shares in the past 90 days.

George Weston Limited (TSE:WN - Get Free Report) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$248.63 and traded as high as C$266.81. George Weston shares last traded at C$264.44, with a volume of 73,898 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WN. Royal Bank Of Canada boosted their target price on shares of George Weston from C$284.00 to C$316.00 in a research note on Monday, July 21st. Desjardins boosted their target price on shares of George Weston from C$251.00 to C$300.00 in a research note on Friday, May 9th. Scotiabank boosted their target price on shares of George Weston from C$241.00 to C$285.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 7th. TD Securities boosted their price target on shares of George Weston from C$308.00 to C$313.00 and gave the stock a "buy" rating in a report on Monday. Finally, CIBC boosted their price target on shares of George Weston from C$268.00 to C$296.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of C$288.58.

George Weston Price Performance

The firm has a market cap of C$34.79 billion, a price-to-earnings ratio of 53.64, a PEG ratio of 5.03 and a beta of 0.42. The company has a quick ratio of 0.73, a current ratio of 1.32 and a debt-to-equity ratio of 372.50. The company's 50-day moving average price is C$268.95 and its 200-day moving average price is C$249.26.

Insider Activity

In related news, Senior Officer Richard Dufresne sold 5,329 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of C$277.47, for a total value of C$1,478,612.05. Also, Senior Officer Andrew Michael Bunston sold 2,151 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of C$277.71, for a total transaction of C$597,360.23. Insiders have sold 47,480 shares of company stock worth $12,706,095 in the last three months. Corporate insiders own 59.41% of the company's stock.

George Weston Company Profile

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%.