Empire (TSE:EMP.A) Price Target Raised to C$38.00 at TD Securities

Empire (TSE:EMP.A) had its price target boosted by TD Securities from C$36.00 to C$38.00 in a research report released on Monday morning, BayStreet.CA reports. TD Securities currently has a hold rating on the stock.

Other research analysts have also recently issued reports about the stock. Desjardins raised their target price on shares of Empire from C$38.00 to C$40.00 and gave the stock a buy rating in a report on Monday. Scotiabank reduced their price target on shares of Empire from C$37.00 to C$36.00 and set an outperform rating for the company in a research report on Monday, April 22nd. National Bankshares increased their price target on shares of Empire from C$40.00 to C$41.00 and gave the stock a sector perform rating in a research report on Friday. BMO Capital Markets reduced their price target on shares of Empire from C$37.00 to C$35.00 in a research report on Friday, March 15th. Finally, Royal Bank of Canada reduced their price target on shares of Empire from C$42.00 to C$41.00 and set a sector perform rating for the company in a research report on Friday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of C$38.71.

Empire Stock Performance

TSE:EMP.A opened at C$34.46 on Monday. Empire has a twelve month low of C$31.45 and a twelve month high of C$40.69. The company has a current ratio of 0.80, a quick ratio of 0.29 and a debt-to-equity ratio of 133.75. The company has a 50-day moving average of C$32.72 and a 200-day moving average of C$33.75. The firm has a market cap of C$5.03 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 16.20 and a beta of 0.46.

Empire Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 30th were issued a dividend of $0.1825 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $0.73 annualized dividend and a yield of 2.12%. Empire’s dividend payout ratio is currently 24.17%.

Insiders Place Their Bets

In other news, Director William Linton sold 7,058 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of C$34.39, for a total transaction of C$242,690.74. Following the completion of the transaction, the director now directly owns 875 shares in the company, valued at approximately C$30,087.05. Company insiders own 1.99% of the company’s stock.

About Empire

Empire Company Limited, together with its subsidiaries, engages in the food retail and related real estate businesses in Canada. It operates through two segments, Food Retailing, and Investments and Other Operations. The company owns, affiliates, and franchises approximately 1,500 retail stores under various retail banners, including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawtons Drugs; and approximately 350 retail fuel locations.