BMO Capital Markets Increases Empire (TSE:EMP.A) Price Target to C$43.00

Empire (TSE:EMP.A) had its price objective raised by BMO Capital Markets from C$40.00 to C$43.00 in a research report report published on Friday morning, BayStreet.CA reports. The firm currently has a market perform rating on the stock.

Other analysts have also recently issued research reports about the company. National Bankshares lifted their target price on Empire from C$41.00 to C$42.00 in a research report on Thursday, August 29th. Desjardins lifted their price target on Empire from C$38.00 to C$40.00 and gave the stock a buy rating in a research report on Monday, June 24th. Royal Bank of Canada decreased their price objective on Empire from C$42.00 to C$41.00 and set a sector perform rating for the company in a report on Friday, June 21st. Finally, TD Securities raised their target price on shares of Empire from C$36.00 to C$38.00 and gave the stock a hold rating in a research report on Monday, June 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of C$43.14.

Empire Price Performance

Empire has a one year low of C$31.45 and a one year high of C$41.38. The firm has a market cap of C$5.68 billion, a price-to-earnings ratio of 13.55, a P/E/G 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. The stock’s 50 day moving average is C$37.03 and its two-hundred day moving average is C$34.48.

Empire Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 31st were paid a $0.20 dividend. This is an increase from Empire’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of ∞. The ex-dividend date was Monday, July 15th. Empire’s dividend payout ratio (DPR) is 27.40%.

Insider Activity

In related news, Senior Officer Pierre St-Laurent sold 3,000 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of C$36.32, for a total transaction of C$108,960.00. In other news, 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 transaction of C$108,960.00. Also, Director William Linton sold 7,058 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of C$34.39, for a total transaction of C$242,690.74. Following the completion of the sale, the director now owns 875 shares of the company’s stock, valued at approximately C$30,087.05. Over the last 90 days, insiders have sold 14,294 shares of company stock valued at $504,880. Company insiders own 2.15% of the company’s stock.

About Empire

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.