Empire (TSE:EMP.A) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Empire Company Limited (TSE:EMP.A)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$41.17 and traded as high as C$45.14. Empire shares last traded at C$45.05, with a volume of 776,748 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. TD Securities boosted their price target on shares of Empire from C$44.00 to C$48.00 and gave the stock a “hold” rating in a report on Friday, December 13th. Desjardins raised their price target on shares of Empire from C$47.00 to C$50.00 in a research note on Sunday, December 15th. Scotiabank lifted their price objective on Empire from C$44.00 to C$47.00 in a report on Friday, December 13th. BMO Capital Markets increased their target price on Empire from C$44.00 to C$48.00 in a report on Friday, December 13th. Finally, Royal Bank of Canada boosted their price target on Empire from C$42.00 to C$46.00 in a research report on Tuesday, November 12th. 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.com, Empire presently has an average rating of “Hold” and an average price target of C$48.57.

Empire Stock Down 0.2 %

The firm has a 50-day moving average of C$43.26 and a two-hundred day moving average of C$41.17. The company has a quick ratio of 0.29, a current ratio of 0.79 and a debt-to-equity ratio of 135.51. The company has a market capitalization of C$6.31 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 16.20 and a beta of 0.48.

Empire Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 31st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Wednesday, January 15th. Empire’s dividend payout ratio (DPR) is 29.20%.

Insiders Place Their Bets

In related news, Senior Officer Douglas Bigler Nathanson sold 7,265 shares of the business’s 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, Senior Officer Matthew Reindel sold 4,587 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of C$43.81, for a total transaction of C$200,956.47. Insiders have sold 96,154 shares of company stock worth $4,305,270 over the last ninety days. Corporate insiders own 2.18% of the company’s stock.

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.