Empire (TSE:EMP.A) Reaches New 52-Week High on Analyst Upgrade

Empire Company Limited (TSE:EMP.A)’s stock price reached a new 52-week high on Tuesday after BMO Capital Markets raised their price target on the stock from C$43.00 to C$44.00. The stock traded as high as C$42.36 and last traded at C$42.19, with a volume of 4261 shares traded. The stock had previously closed at C$42.06.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada upped their target price on shares of Empire from C$42.00 to C$46.00 in a research report on Tuesday, November 12th. TD Securities increased their price objective on shares of Empire from C$38.00 to C$44.00 and gave the stock a “hold” rating in a research report on Friday, September 13th. CIBC boosted their target price on Empire from C$40.00 to C$47.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. Desjardins upped their price target on Empire from C$42.00 to C$44.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, National Bankshares lifted their price objective on Empire from C$42.00 to C$46.00 and gave the company a “sector perform” rating in a research note on Friday, September 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, Empire has an average rating of “Hold” and an average target price of C$43.86.

Insider Buying and Selling

In other news, Senior Officer Pierre St-Laurent sold 4,850 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of C$41.21, for a total value of C$199,868.50. Also, Senior Officer Douglas Bigler Nathanson sold 3,658 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of C$40.26, for a total value of C$147,252.79. Insiders have sold 13,033 shares of company stock worth $526,583 in the last ninety days. 2.18% of the stock is owned by corporate insiders.

Empire Stock Up 1.4 %

The firm’s fifty day simple moving average is C$40.87 and its 200-day simple moving average is C$37.24. The company has a market cap of C$5.99 billion, a PE ratio of 15.50, a P/E/G ratio of 16.20 and a beta of 0.48. The company has a quick ratio of 0.29, a current ratio of 0.79 and a debt-to-equity ratio of 135.51.

Empire Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Tuesday, October 15th. Empire’s payout ratio is 29.20%.

Empire Company Profile

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.