Matthew Reindel Sells 1,852 Shares of Empire Company Limited (TSE:EMP.A) Stock

Empire Company Limited (TSE:EMP.A) Senior Officer Matthew Reindel sold 1,852 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of C$46.16, for a total value of C$85,488.32.

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

• On Friday, March 21st, Matthew Reindel sold 217 shares of Empire stock. The shares were sold at an average price of C$46.10, for a total value of C$10,003.70.
• On Monday, March 17th, Matthew Reindel sold 767 shares of Empire stock. The shares were sold at an average price of C$44.11, for a total transaction of C$33,832.37.

Empire Trading Up 1.2 %

Shares of TSE:EMP.A opened at C$46.42 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’s 50-day moving average is C$43.79 and its 200-day moving average is C$42.26. The company has a market cap of C$6.52 billion, a P/E ratio of 16.94, 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 firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 31st were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.72%. The ex-dividend date was Wednesday, January 15th. Empire’s dividend payout ratio is currently 29.20%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. TD Securities boosted their target price on shares of Empire from C$44.00 to C$48.00 and gave the stock a “hold” rating in a research report on Friday, December 13th. CIBC increased their target price on shares of Empire from C$47.00 to C$55.00 in a research report on Friday, December 13th. Desjardins raised their target price on Empire from C$47.00 to C$50.00 in a report on Sunday, December 15th. Scotiabank upgraded 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, BMO Capital Markets raised their price objective on Empire from C$44.00 to C$48.00 in a research note on Friday, December 13th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.