Empire (TSE:EMP.A) Given New C$40.00 Price Target at BMO Capital Markets

Empire (TSE:EMP.A) had its target price upped by BMO Capital Markets from C$35.00 to C$40.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports.

Other equities analysts have also recently issued reports about the stock. TD Securities upped their target price on shares of Empire from C$36.00 to C$38.00 and gave the company a hold rating in a research note on Monday, June 24th. Desjardins increased their target price on shares of Empire from C$38.00 to C$40.00 and gave the company a buy rating in a research note on Monday, June 24th. National Bankshares upped their price target on Empire from C$41.00 to C$42.00 in a report on Thursday, August 29th. Finally, Royal Bank of Canada decreased their price objective on Empire from C$42.00 to C$41.00 and set a sector perform rating on the stock in a report on Friday, June 21st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of C$39.57.

Empire Trading Up 0.8 %

Empire stock opened at C$37.89 on Tuesday. Empire has a one year low of C$31.45 and a one year high of C$40.69. The company’s fifty day moving average price is C$36.39 and its two-hundred day moving average price is C$34.22. The company has a market capitalization of C$5.44 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 16.20 and a beta of 0.47. The company has a debt-to-equity ratio of 134.59, a current ratio of 0.80 and a quick ratio of 0.29.

Empire Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 31st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.11%. This is an increase from Empire’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, July 15th. Empire’s payout ratio is 27.40%.

Insider Transactions at Empire

In other news, Senior Officer Pierre St-Laurent sold 3,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of C$36.32, for a total value of C$108,960.00. In other Empire news, Senior Officer Vivek Sood sold 4,236 shares of Empire stock in a transaction dated Friday, July 19th. The stock was sold at an average price of C$36.17, for a total value of C$153,228.83. Following the sale, the insider now owns 381 shares of the company’s stock, valued at approximately C$13,781.91. Also, Senior Officer Pierre St-Laurent sold 3,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of C$36.32, for a total value of C$108,960.00. Insiders have sold 14,294 shares of company stock worth $504,880 in the last three months. Insiders own 2.15% of the company’s stock.

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.