George Weston (TSE:WN) Downgraded to “Sector Perform” Rating by Scotiabank

Scotiabank cut shares of George Weston (TSE:WN) from an outperform rating to a sector perform rating in a report released on Thursday, MarketBeat Ratings reports. They currently have C$241.00 price objective on the stock, up from their previous price objective of C$240.00.

WN has been the subject of a number of other research reports. Desjardins lifted their price objective on George Weston from C$232.00 to C$255.00 in a research note on Wednesday, November 20th. CIBC lifted their price objective on George Weston from C$254.00 to C$269.00 in a research note on Wednesday, November 20th. Royal Bank of Canada lifted their price objective on George Weston from C$253.00 to C$266.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. TD Securities boosted their price target on George Weston from C$242.00 to C$263.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Finally, BMO Capital Markets boosted their price target on George Weston from C$220.00 to C$221.50 in a research note on Wednesday, November 20th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, George Weston presently has an average rating of “Moderate Buy” and an average target price of C$251.42.

George Weston Stock Up 1.6 %

Shares of TSE:WN opened at C$231.42 on Thursday. The stock has a fifty day simple moving average of C$223.45 and a two-hundred day simple moving average of C$223.61. The stock has a market capitalization of C$30.04 billion, a price-to-earnings ratio of 46.32, a PEG ratio of 5.03 and a beta of 0.42. George Weston has a 12-month low of C$174.30 and a 12-month high of C$239.79. The company has a current ratio of 1.32, a quick ratio of 0.73 and a debt-to-equity ratio of 372.50.

Insider Transactions at George Weston

In related news, Senior Officer Richard Dufresne sold 10,000 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of C$230.80, for a total transaction of C$2,308,031.00. Also, Senior Officer Rashid Wasti sold 250 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of C$231.30, for a total value of C$57,825.00. Insiders sold 20,400 shares of company stock worth $4,650,687 over the last quarter. 59.41% of the stock is currently owned by insiders.

About George Weston

George Weston is a holding company that operates through two subsidiaries encompassing retail and real estate. The first is Loblaw, the largest grocer in Canada, in which it has a 53% controlling stake. The second is Choice Properties, an open-ended real estate investment trust, where George Weston’s ownership sits close to 62%.