Empire (TSE:EMP.A) Stock Price Crosses Above 200-Day Moving Average of $34.64

Empire Company Limited (TSE:EMP.A) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$34.64 and traded as high as C$40.09. Empire shares last traded at C$39.81, with a volume of 376,721 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. BMO Capital Markets increased their price objective on shares of Empire from C$40.00 to C$43.00 and gave the company a “market perform” rating in a report on Friday, September 13th. Desjardins lifted their price target on Empire from C$42.00 to C$44.00 and gave the company a “buy” rating in a research report on Friday, September 13th. CIBC upped their price objective on Empire from C$40.00 to C$47.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Royal Bank of Canada lifted their target price on Empire from C$41.00 to C$42.00 and gave the stock a “sector perform” rating in a report on Friday, September 13th. Finally, TD Securities raised their price objective on shares of Empire from C$38.00 to C$44.00 and gave the company a “hold” rating in a research report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$43.14.

Empire Stock Performance

The company has a current ratio of 0.79, a quick ratio of 0.29 and a debt-to-equity ratio of 135.51. The firm has a market capitalization of C$5.59 billion, a PE ratio of 14.53, a PEG ratio of 16.20 and a beta of 0.47. The firm’s fifty day moving average price is C$37.45 and its 200 day moving average price is C$34.64.

Empire Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 31st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Monday, July 15th. This is a positive change from Empire’s previous quarterly dividend of $0.18. Empire’s dividend payout ratio (DPR) is presently 29.20%.

Insider Transactions at Empire

In related news, Senior Officer Vivek Sood sold 4,236 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 381 shares in the company, valued at approximately C$13,781.91. In other news, Senior Officer Pierre St-Laurent sold 3,000 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of C$36.32, for a total value of C$108,960.00. Also, Senior Officer Vivek Sood sold 4,236 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of C$36.17, for a total transaction of C$153,228.83. Following the transaction, the insider now directly owns 381 shares of the company’s stock, valued at C$13,781.91. Insiders have sold a total of 11,761 shares of company stock worth $441,650 in the last 90 days. 2.17% of the stock is owned by insiders.

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.