Empire Company Limited (TSE:EMP.A) Senior Officer Matthew Reindel Sells 767 Shares

Empire Company Limited (TSE:EMP.A) Senior Officer Matthew Reindel sold 767 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of C$44.11, for a total value of C$33,832.37.

Matthew Reindel also recently made the following trade(s):

• On Thursday, December 19th, Matthew Reindel sold 4,587 shares of Empire stock. The shares were sold at an average price of C$43.81, for a total value of C$200,956.47.

Empire Stock Performance

Shares of EMP.A opened at C$46.21 on Friday. The company has a debt-to-equity ratio of 135.51, a quick ratio of 0.29 and a current ratio of 0.79. The stock has a 50 day moving average price of C$43.50 and a two-hundred day moving average price of C$42.02. The firm has a market capitalization of C$6.49 billion, a P/E ratio of 16.86, a P/E/G ratio of 16.20 and a beta of 0.48. Empire Company Limited has a 52 week low of C$31.45 and a 52 week high of C$46.91.

Empire Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 31st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Wednesday, January 15th. Empire’s dividend payout ratio is currently 29.20%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. BMO Capital Markets boosted their price objective on Empire from C$44.00 to C$48.00 in a research note on Friday, December 13th. Desjardins boosted their price objective on Empire from C$47.00 to C$50.00 in a research note on Sunday, December 15th. TD Securities upped their price target on Empire from C$44.00 to C$48.00 and gave the stock a “hold” rating in a research note on Friday, December 13th. Scotiabank raised Empire from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$47.00 to C$49.00 in a research note on Friday, March 14th. Finally, CIBC upped their price target on Empire from C$47.00 to C$55.00 in a research note on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Empire presently has an average rating of “Hold” and an average target price of C$48.86.

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.