George Weston (TSE:WN) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• George Weston shares moved above their 200-day moving average, reaching C$101.58 before last trading at C$99.73, down 0.6%.
• BMO Capital Markets upgraded the stock to “outperform” and raised its price target to C$113.00. Overall, analysts have a “Moderate Buy” consensus, with three Buy ratings and one Hold.
• The company reported quarterly revenue of C$15.20 billion and EPS of C$1.08, while insiders have sold 70,000 shares worth approximately C$7.0 million over the past 90 days.

George Weston Limited (TSE:WN - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$99.76 and traded as high as C$101.58. George Weston shares last traded at C$99.73, with a volume of 315,381 shares changing hands.

Analyst Ratings Changes

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

George Weston Stock Down 0.6%

The stock has a fifty day moving average price of C$100.45 and a two-hundred day moving average price of C$99.76. The company has a market cap of C$37.32 billion, a price-to-earnings ratio of 39.11, a P/E/G ratio of 5.03 and a beta of 0.22. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 438.92.

George Weston (TSE:WN - Get Free Report) last released its quarterly earnings results 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 business had revenue of C$15.20 billion for the quarter. As a group, sell-side analysts expect that George Weston Limited will post 13.0245758 EPS for the current year.

Insider Transactions at George Weston

In other George Weston news, insider Richard Dufresne sold 10,000 shares of the 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 transaction of C$1,010,400.00. Following the transaction, the insider owned 19,911 shares in the company, valued at C$2,011,807.44. This represents a 33.43% decrease in their position. Over the last ninety days, insiders have sold 70,000 shares of company stock valued at $7,017,600. 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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