Empire Company Limited (TSE:EMP.A) Senior Officer Sells C$85,488.32 in Stock

Empire Company Limited (TSE:EMP.A) Senior Officer Matthew Reindel sold 1,852 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of C$46.16, for a total transaction 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 stock was 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 value of C$33,832.37.

Empire Stock Performance

Shares of EMP.A stock opened at C$46.63 on Friday. The company has a market cap of C$6.55 billion, a P/E ratio of 17.02, a PEG ratio of 16.20 and a beta of 0.48. The business has a 50 day moving average of C$43.88 and a two-hundred day moving average of C$42.32. Empire Company Limited has a 52 week low of C$31.45 and a 52 week high of C$46.91. 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 business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 31st were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, January 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.72%. Empire’s payout ratio is currently 29.20%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on EMP.A shares. Desjardins lifted their price target on shares of Empire from C$47.00 to C$50.00 in a research note on Sunday, December 15th. CIBC upped their target price on shares of Empire from C$47.00 to C$55.00 in a research note on Friday, December 13th. BMO Capital Markets lifted their price target on Empire from C$44.00 to C$48.00 in a research note on Friday, December 13th. Scotiabank upgraded Empire from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$47.00 to C$49.00 in a research note on Friday, March 14th. Finally, TD Securities lifted their target price on Empire from C$44.00 to C$48.00 and gave the stock a “hold” rating in a research report on Friday, December 13th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Empire currently has a consensus rating of “Hold” and a consensus target price of C$48.86.

Empire Company Profile

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.