Empire (TSE:EMP.A) Stock Passes Above 200-Day Moving Average – Time to Sell?

Empire Company Limited (TSE:EMP.A) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$40.89 and traded as high as C$42.61. Empire shares last traded at C$42.58, with a volume of 549,288 shares traded.

Analyst Ratings Changes

Several research analysts have commented on the company. TD Securities lifted their price target on Empire from C$44.00 to C$48.00 and gave the stock a “hold” rating in a research report on Friday, December 13th. CIBC lifted their target price on Empire from C$47.00 to C$55.00 in a research note on Friday, December 13th. BMO Capital Markets lifted their target price on Empire from C$44.00 to C$48.00 in a research note on Friday, December 13th. Royal Bank of Canada lifted their target price on Empire from C$42.00 to C$46.00 in a research note on Tuesday, November 12th. Finally, Desjardins lifted their target price on Empire from C$47.00 to C$50.00 in a research note on Sunday, December 15th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$48.57.

Empire Stock Performance

The company has a debt-to-equity ratio of 135.51, a current ratio of 0.79 and a quick ratio of 0.29. The stock has a market capitalization of C$5.98 billion, a PE ratio of 15.54, a P/E/G ratio of 16.20 and a beta of 0.48. The stock has a 50 day moving average of C$43.33 and a two-hundred day moving average of C$40.89.

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 paid a $0.20 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.88%. Empire’s dividend payout ratio (DPR) is presently 29.20%.

Insider Buying and Selling

In related news, Senior Officer Douglas Bigler Nathanson sold 7,265 shares of Empire stock in a transaction on Friday, December 13th. The stock was sold at an average price of C$45.15, for a total transaction of C$328,014.75. Also, Director Michael Bennett Medline sold 75,844 shares of Empire stock in a transaction on Friday, December 13th. The stock was sold at an average price of C$44.83, for a total value of C$3,400,086.52. Over the last ninety days, insiders sold 96,154 shares of company stock valued at $4,305,270. 2.18% of the stock is owned by insiders.

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.