Matthew Reindel Sells 1,852 Shares of Empire Company Limited (TSE:EMP.A) Stock

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

Shares of TSE:EMP.A opened at C$46.42 on Friday. The company’s fifty day moving average is C$43.79 and its two-hundred day moving average is C$42.26. The company has a market cap of C$6.52 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 16.20 and a beta of 0.48. Empire Company Limited has a 12-month low of C$31.45 and a 12-month 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 firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 31st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Wednesday, January 15th. Empire’s payout ratio is 29.20%.

Analyst Upgrades and Downgrades

EMP.A has been the subject of a number of research analyst reports. Desjardins upped their price target on shares of Empire from C$47.00 to C$50.00 in a report on Sunday, December 15th. CIBC raised their target price on shares of Empire from C$47.00 to C$55.00 in a report on Friday, December 13th. Scotiabank upgraded shares of Empire from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from C$47.00 to C$49.00 in a research report on Friday, March 14th. BMO Capital Markets increased their price objective on Empire from C$44.00 to C$48.00 in a research report on Friday, December 13th. 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 report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target 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.