George Weston (TSE:WN) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

George Weston Limited (TSE:WN)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$226.83 and traded as high as C$245.05. George Weston shares last traded at C$239.49, with a volume of 172,309 shares.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Desjardins cut their price objective on shares of George Weston from C$255.00 to C$251.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. CIBC decreased their price objective on George Weston from C$269.00 to C$268.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Scotiabank cut George Weston from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from C$240.00 to C$241.00 in a report on Thursday, February 27th. Finally, Royal Bank of Canada decreased their price target on shares of George Weston from C$266.00 to C$264.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$251.42.

George Weston Price Performance

The company has a debt-to-equity ratio of 372.50, a quick ratio of 0.73 and a current ratio of 1.32. The stock has a market cap of C$31.09 billion, a PE ratio of 47.94, a P/E/G ratio of 5.03 and a beta of 0.42. The business has a 50 day moving average price of C$230.98 and a two-hundred day moving average price of C$226.83.

Insider Activity

In related news, Senior Officer Rashid Wasti sold 250 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of C$238.75, for a total transaction of C$59,687.50. Also, Senior Officer Richard Dufresne sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of C$230.80, for a total value of C$2,308,031.00. In the last ninety days, insiders acquired 4,000 shares of company stock valued at $90,780 and sold 77,461 shares valued at $17,949,441. 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%.