Empire (TSE:EMP.A) Price Target Increased to C$44.00 by Analysts at TD Securities

Empire (TSE:EMP.A) had its price target raised by TD Securities from C$38.00 to C$44.00 in a research note released on Friday, BayStreet.CA reports. They currently have a hold rating on the stock.

EMP.A has been the topic of a number of other reports. CIBC boosted their price target on shares of Empire from C$40.00 to C$47.00 and gave the stock an outperform rating in a report on Friday. National Bankshares upped their price target on Empire from C$41.00 to C$42.00 in a research report on Thursday, August 29th. Royal Bank of Canada upped their price target on Empire from C$41.00 to C$42.00 and gave the company a sector perform rating in a research report on Friday. Desjardins upped their price target on Empire from C$38.00 to C$40.00 and gave the company a buy rating in a research report 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 company a market perform rating in a research report on Friday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of C$43.14.

Empire Stock Performance

The business has a fifty day moving average of C$37.03 and a 200-day moving average of C$34.48. The company has a quick ratio of 0.29, a current ratio of 0.80 and a debt-to-equity ratio of 134.59. The stock has a market cap of C$5.68 billion, a P/E ratio of 13.55, a P/E/G ratio of 16.20 and a beta of 0.47. Empire has a fifty-two week low of C$31.45 and a fifty-two week high of C$41.38.

Empire Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 31st were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of ∞. This is a boost from Empire’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, July 15th. Empire’s dividend payout ratio is 27.40%.

Insider Buying and Selling

In related news, Senior Officer Vivek Sood sold 4,236 shares of the company’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 transaction, the insider now directly owns 381 shares in the company, valued at C$13,781.91. In other Empire news, Senior Officer Vivek Sood sold 4,236 shares of the 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 transaction of C$153,228.83. Following the transaction, the insider now directly owns 381 shares in the company, valued at C$13,781.91. Also, Senior Officer Pierre St-Laurent sold 3,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of C$36.32, for a total transaction of C$108,960.00. Over the last three months, insiders have sold 14,294 shares of company stock worth $504,880. 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.