Insider Selling: George Weston (TSE:WN) Insider Sells 10,000 Shares of Stock

Key Points

• Insider selling: Richard Dufresne sold 10,000 George Weston shares at an average C$101.04 for C$1.01 million, reducing his direct ownership by 33.43% to 19,911 shares. He also sold 60,000 shares in three earlier September transactions.
• Stock performance: George Weston shares traded at C$100.65, near their 50-day and 200-day moving averages, with a market capitalization of approximately C$37.66 billion.
• Analyst outlook: BMO Capital Markets upgraded the stock to “outperform” and raised its price target to C$113. The company has a consensus “Moderate Buy” rating, supported by three Buy ratings and one Hold.

George Weston Limited (TSE:WN - Get Free Report) insider Richard Dufresne sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of C$101.04, for a total value of C$1,010,400.00. Following the completion of the sale, the insider directly owned 19,911 shares of the company's stock, valued at approximately C$2,011,807.44. The trade was a 33.43% decrease in their ownership of the stock.

Richard Dufresne also recently made the following trade(s):

• On Wednesday, September 16th, Richard Dufresne sold 20,000 shares of George Weston stock. The stock was sold at an average price of C$100.47, for a total value of C$2,009,400.00.
• On Tuesday, September 1st, Richard Dufresne sold 20,000 shares of George Weston stock. The stock was sold at an average price of C$98.56, for a total value of C$1,971,200.00.
• On Friday, September 4th, Richard Dufresne sold 20,000 shares of George Weston stock. The shares were sold at an average price of C$101.33, for a total value of C$2,026,600.00.

George Weston Stock Performance

George Weston stock traded up C$1.31 during mid-day trading on Monday, hitting C$100.65. 181,638 shares of the company's stock traded hands, compared to its average volume of 325,076. The firm has a 50 day simple moving average of C$100.99 and a two-hundred day simple moving average of C$99.38. George Weston Limited has a fifty-two week low of C$82.77 and a fifty-two week high of C$107.94. The stock has a market cap of C$37.66 billion, a price-to-earnings ratio of 39.47, a P/E/G ratio of 5.03 and a beta of 0.24. The company has a debt-to-equity ratio of 438.92, a current ratio of 1.05 and a quick ratio of 0.73.

George Weston (TSE:WN - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The company reported C$1.08 EPS for the quarter. George Weston had a net margin of 1.59% and a return on equity of 20.42%. The firm had revenue of C$15.20 billion during the quarter. On average, research analysts expect that George Weston Limited will post 13.0245758 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets upgraded shares of George Weston from a "hold" rating to an "outperform" rating and upped their price target for the company from C$103.00 to C$113.00 in a research note on Monday, July 20th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$113.00.

About George Weston

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%. The company sold Weston Foods, a North American bakery, in early 2022, which the firm had previously wholly owned. While the two remaining entities are separate, they operate under a contractual, as well as tacit, framework of strategic business partnerships.

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