George Weston (TSE:WN) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• George Weston Limited's stock price surpassed its 200-day moving average, trading at C$267.66 on Monday, against a high of C$268.41.
• Several brokerages, including Royal Bank of Canada and CIBC, have raised their target prices for the stock, reflecting a consensus target price of C$301.00.
• Insider trading has been notable, with Senior Officers selling shares valued over C$4.7 million in the last quarter, while 59.41% of the stock remains owned by corporate insiders.

George Weston Limited (TSE:WN - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$253.82 and traded as high as C$268.41. George Weston shares last traded at C$267.66, with a volume of 138,546 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have commented on WN. Royal Bank Of Canada boosted their target price on George Weston from C$316.00 to C$323.00 in a research note on Wednesday, July 30th. CIBC boosted their target price on George Weston from C$268.00 to C$296.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. TD Securities boosted their target price on George Weston from C$308.00 to C$313.00 and gave the company a "buy" rating in a research note on Monday, July 28th. BMO Capital Markets boosted their target price on George Weston from C$271.00 to C$284.00 in a research note on Wednesday, July 30th. Finally, Desjardins boosted their target price on George Weston from C$300.00 to C$305.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$301.00.

George Weston Stock Performance

The company has a market cap of C$34.74 billion, a P/E ratio of 53.58, a P/E/G ratio of 5.03 and a beta of 0.42. The firm has a 50 day moving average price of C$266.63 and a 200-day moving average price of C$253.82. The company has a debt-to-equity ratio of 372.50, a quick ratio of 0.73 and a current ratio of 1.32.

Insider Activity

In other news, Senior Officer Richard Dufresne sold 5,329 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of C$277.47, for a total transaction of C$1,478,612.05. Also, Senior Officer Andrew Michael Bunston sold 2,151 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of C$277.71, for a total value of C$597,360.23. In the last quarter, insiders have sold 17,480 shares of company stock valued at $4,747,220. 59.41% of the stock is currently owned by corporate insiders.

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%.

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