Empire (TSE:EMP.A) PT Raised to C$47.00

Empire (TSE:EMP.A) had its price objective boosted by CIBC from C$40.00 to C$47.00 in a report released on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research analysts also recently commented on EMP.A. Royal Bank of Canada raised their price objective on Empire from C$41.00 to C$42.00 and gave the stock a sector perform rating in a report on Friday. National Bankshares increased their price objective on shares of Empire from C$41.00 to C$42.00 in a research note on Thursday, August 29th. Desjardins increased their price target on shares of Empire from C$38.00 to C$40.00 and gave the company a buy rating in a research report on Monday, June 24th. TD Securities raised 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. Finally, BMO Capital Markets upped their price target on Empire from C$40.00 to C$43.00 and gave the stock a market perform rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of C$43.14.

Empire Price Performance

EMP.A opened at C$39.76 on Friday. The stock has a market cap of C$5.70 billion, a P/E ratio of 13.62, a PEG ratio of 16.20 and a beta of 0.47. Empire has a 52-week low of C$31.45 and a 52-week high of C$41.38. The business has a fifty day moving average of C$37.12 and a 200 day moving average of C$34.51. The company has a quick ratio of 0.29, a current ratio of 0.80 and a debt-to-equity ratio of 134.59.

Empire Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 31st were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.01%. This is a positive change from Empire’s previous quarterly dividend of $0.18. Empire’s dividend payout ratio is presently 27.40%.

Insider Buying and Selling at Empire

In related news, Director William Linton sold 7,058 shares of Empire stock in a transaction that occurred on 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 C$30,087.05. In other Empire news, Director William Linton sold 7,058 shares of Empire stock in a transaction on Friday, June 21st. The shares were sold at an average price of C$34.39, for a total value of C$242,690.74. Following the completion of the transaction, the director now owns 875 shares of the company’s stock, valued at C$30,087.05. Also, Senior Officer Vivek Sood sold 4,236 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were 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 C$13,781.91. Over the last three months, insiders have sold 14,294 shares of company stock valued at $504,880. 2.15% 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.