George Weston (TSE:WN) Hits New 52-Week High - Here's Why

Key Points

• George Weston shares hit a new 52-week high of C$109.04, rising 2.6% from the prior close, with the company valued at approximately C$40.47 billion.
• BMO Capital Markets upgraded the stock to “outperform” and raised its price target to C$113.00. Analysts collectively assign the shares a “Moderate Buy” rating.
• The company reported quarterly EPS of C$1.08 on revenue of C$15.20 billion, while insiders sold 70,000 shares worth about $7.0 million during the last quarter.

George Weston Limited (TSE:WN - Get Free Report)'s stock price reached a new 52-week high on Thursday. The stock traded as high as C$109.04 and last traded at C$109.04, with a volume of 17,137 shares traded. The stock had previously closed at C$105.42.

Analyst Ratings Changes

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 equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, George Weston has an average rating of "Moderate Buy" and a consensus price target of C$113.00.

George Weston Trading Up 2.6%

The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 438.92. The stock has a 50-day simple moving average of C$100.21 and a 200 day simple moving average of C$100.01. The company has a market cap of C$40.47 billion, a price-to-earnings ratio of 42.41, a PEG ratio of 5.03 and a beta of 0.22.

George Weston (TSE:WN - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported C$1.08 earnings per share (EPS) for the quarter. The company had revenue of C$15.20 billion during the quarter. George Weston had a net margin of 1.59% and a return on equity of 20.42%. As a group, equities research analysts predict that George Weston Limited will post 13.02 EPS for the current fiscal year.

Insider Activity at George Weston

In other news, insider Richard Dufresne sold 10,000 shares of the company's stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of C$101.04, for a total value of C$1,010,400.00. Following the sale, the insider owned 19,911 shares in the company, valued at C$2,011,807.44. This represents a 33.43% decrease in their ownership of the stock. Insiders sold a total of 70,000 shares of company stock valued at $7,017,600 in the last quarter. 59.41% of the stock is owned by corporate insiders.

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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