Matthew Reindel Sells 4,587 Shares of Empire Company Limited (TSE:EMP.A) Stock

Empire Company Limited (TSE:EMP.A) Senior Officer Matthew Reindel sold 4,587 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of C$43.81, for a total transaction of C$200,956.47.

Empire Stock Up 1.5 %

Shares of EMP.A traded up C$0.65 during trading on Monday, reaching C$43.87. The company’s stock had a trading volume of 228,226 shares, compared to its average volume of 409,980. Empire Company Limited has a twelve month low of C$31.45 and a twelve month high of C$46.77. The company has a quick ratio of 0.29, a current ratio of 0.79 and a debt-to-equity ratio of 135.51. The company has a market cap of C$6.16 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 16.20 and a beta of 0.48. The company has a fifty day moving average of C$41.76 and a two-hundred day moving average of C$38.20.

Empire Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 31st were paid a $0.20 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.82%. Empire’s dividend payout ratio (DPR) is 29.20%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EMP.A. TD Securities upped their price objective on Empire from C$44.00 to C$48.00 and gave the stock a “hold” rating in a report on Friday, December 13th. Scotiabank boosted their target price on Empire from C$44.00 to C$47.00 in a report on Friday, December 13th. Desjardins lifted their price target on shares of Empire from C$47.00 to C$50.00 in a research report on Sunday, December 15th. Royal Bank of Canada raised their target price on shares of Empire from C$42.00 to C$46.00 in a research note on Tuesday, November 12th. Finally, CIBC upped their price target on shares of Empire from C$47.00 to C$55.00 in a research report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$48.57.

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.