Michael Bennett Medline Sells 45,006 Shares of Empire Company Limited (TSE:EMP.A) Stock

Empire Company Limited (TSE:EMP.A - Get Free Report) Director Michael Bennett Medline sold 45,006 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of C$56.68, for a total transaction of C$2,550,940.08.

Michael Bennett Medline also recently made the following trade(s):

• On Tuesday, June 24th, Michael Bennett Medline sold 45,474 shares of Empire stock. The stock was sold at an average price of C$55.89, for a total value of C$2,541,541.86.
• On Friday, June 20th, Michael Bennett Medline sold 44,508 shares of Empire stock. The stock was sold at an average price of C$55.19, for a total value of C$2,456,396.52.

Empire Stock Performance

Empire stock traded down C$0.15 during mid-day trading on Monday, reaching C$56.30. 575,608 shares of the company's stock were exchanged, compared to its average volume of 477,564. The business's fifty day simple moving average is C$52.97 and its 200 day simple moving average is C$47.90. The firm has a market capitalization of C$7.91 billion, a PE ratio of 20.55, a P/E/G ratio of 16.20 and a beta of 0.48. Empire Company Limited has a one year low of C$35.05 and a one year high of C$57.10. 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 31st will be given a dividend of $0.22 per share. This is an increase from Empire's previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Tuesday, July 15th. Empire's dividend payout ratio is currently 29.20%.

Wall Street Analyst Weigh In

Several research analysts have commented on EMP.A shares. TD Securities lifted their target price on Empire from C$48.00 to C$58.00 and gave the stock a "hold" rating in a report on Friday, June 20th. Scotiabank upped their target price on Empire from C$49.00 to C$62.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Desjardins upped their target price on Empire from C$50.00 to C$55.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Royal Bank Of Canada upped their target price on Empire from C$56.00 to C$61.00 and gave the company a "sector perform" rating in a report on Friday, June 20th. Finally, National Bankshares upped their target price on Empire from C$53.00 to C$59.00 and gave the company a "sector perform" rating in a report on Friday, June 20th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Empire presently has an average rating of "Hold" and a consensus target price of C$57.43.

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.