Empire Company Limited (TSE:EMP.A) Director Michael Bennett Medline Sells 45,015 Shares

Empire Company Limited (TSE:EMP.A - Get Free Report) Director Michael Bennett Medline sold 45,015 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of C$56.51, for a total value of C$2,543,797.65.

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

• On Thursday, July 17th, Michael Bennett Medline sold 2 shares of Empire stock. The shares were sold at an average price of C$56.09, for a total value of C$112.18.
• On Thursday, July 10th, Michael Bennett Medline sold 45,006 shares of Empire stock. The stock was sold at an average price of C$56.68, for a total value of C$2,550,940.08.
• 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 transaction of C$2,456,396.52.

Empire Price Performance

Shares of Empire stock traded up C$0.34 during trading hours on Monday, reaching C$56.08. The stock had a trading volume of 135,910 shares, compared to its average volume of 471,078. The stock's 50 day moving average is C$53.43 and its 200 day moving average is C$48.32. The firm has a market capitalization of C$7.87 billion, a PE ratio of 20.47, a PEG ratio of 16.20 and a beta of 0.48. Empire Company Limited has a twelve month low of C$35.79 and a twelve month high of C$57.10. The company has a current ratio of 0.79, a quick ratio of 0.29 and a debt-to-equity ratio of 135.51.

Empire Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 31st will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, July 15th. This is an increase from Empire's previous quarterly dividend of $0.20. Empire's dividend payout ratio is 29.20%.

Wall Street Analyst Weigh In

EMP.A has been the subject of several recent research reports. National Bankshares lifted their target price on shares of Empire from C$53.00 to C$59.00 and gave the company a "sector perform" rating in a report on Friday, June 20th. Scotiabank lifted their target price on shares of Empire from C$49.00 to C$62.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. CIBC raised their target price on Empire from C$55.00 to C$59.00 in a report on Friday, June 20th. Royal Bank Of Canada increased their price target on Empire from C$56.00 to C$61.00 and gave the stock a "sector perform" rating in a research note on Friday, June 20th. Finally, Desjardins boosted their price target on shares of Empire from C$50.00 to C$55.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Empire has an average rating of "Hold" and an average target price of C$57.43.

About Empire

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.