Empire (TSE:EMP.A) Price Target Raised to C$42.00 at Royal Bank of Canada

Empire (TSE:EMP.A) had its target price lifted by Royal Bank of Canada from C$41.00 to C$42.00 in a research note released on Friday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

EMP.A has been the topic of a number of other research reports. TD Securities boosted their price objective on Empire from C$36.00 to C$38.00 and gave the stock a hold rating in a research note on Monday, June 24th. BMO Capital Markets boosted 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. National Bankshares increased their price objective on shares of Empire from C$41.00 to C$42.00 in a research report on Thursday, August 29th. Finally, Desjardins boosted their target price on shares of Empire from C$38.00 to C$40.00 and gave the stock a buy rating in a research report on Monday, June 24th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of C$43.14.

Empire Price Performance

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 firm has a market capitalization 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 stock has a 50-day simple moving average of C$37.03 and a two-hundred day simple moving average of C$34.48. Empire has a 52-week low of C$31.45 and a 52-week high of C$41.38.

Empire Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 31st were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of ∞. This is a positive change 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 presently 27.40%.

Insider Transactions at Empire

In other news, Director William Linton sold 7,058 shares of the business’s stock in a transaction dated 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 sale, the director now owns 875 shares of the company’s stock, valued at approximately C$30,087.05. In other Empire news, Director William Linton sold 7,058 shares of the company’s 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 sale, the director now owns 875 shares in the company, valued at C$30,087.05. Also, Senior Officer Vivek Sood sold 4,236 shares of Empire stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of C$36.17, for a total value of C$153,228.83. Following the completion of the transaction, the insider now owns 381 shares of the company’s stock, valued at approximately C$13,781.91. Over the last quarter, insiders sold 14,294 shares of company stock valued at $504,880. 2.15% of the stock is currently owned by corporate insiders.

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.