George Weston (TSE:WN) Reaches New 1-Year High - Here's Why

Key Points

• George Weston hit a new 52-week high of C$111.82, up from its prior close of C$108.75; the shares were last trading at C$111.42.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of C$115.83. CIBC set a C$134 target and an outperformer rating, while BMO upgraded the stock to outperform.
• Insiders sold 70,000 shares worth about C$7.02 million over the last quarter. One insider’s 20,000-share sale reduced their holdings by 50.11%.

Shares of George Weston Limited (TSE:WN - Get Free Report) reached a new 52-week high during trading on Wednesday. The stock traded as high as C$111.82 and last traded at C$111.42, with a volume of 25,799 shares changing hands. The stock had previously closed at C$108.75.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Canadian Imperial Bank of Commerce set a C$134.00 price objective on shares of George Weston and gave the company an "outperformer" rating in a report on Thursday, October 22nd. BMO Capital Markets upgraded George Weston from a "hold" rating to an "outperform" rating and raised their target price for the company from C$103.00 to C$113.00 in a research report on Monday, July 20th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$115.83.

George Weston Trading Up 2.1%

The company has a debt-to-equity ratio of 438.92, a quick ratio of 0.73 and a current ratio of 1.05. The firm has a market capitalization of C$41.54 billion, a price-to-earnings ratio of 43.53, a P/E/G ratio of 5.03 and a beta of 0.22. The company has a 50 day moving average price of C$102.55 and a two-hundred day moving average price of C$100.16.

Insider Transactions at George Weston

In other news, insider Richard Dufresne sold 20,000 shares of George Weston stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of C$98.56, for a total value of C$1,971,200.00. Following the sale, the insider owned 19,911 shares in the company, valued at C$1,962,428.16. This trade represents a 50.11% decrease in their ownership of the stock. Insiders have sold 70,000 shares of company stock worth $7,017,600 over the last quarter. Company insiders own 59.41% of the company's stock.

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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