Empire (TSE:EMP.A) PT Raised to C$44.00

Empire (TSE:EMP.A) had its target price increased by Desjardins from C$42.00 to C$44.00 in a research report sent to investors on Friday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other brokerages also recently commented on EMP.A. TD Securities increased their price objective on shares of Empire from C$38.00 to C$44.00 and gave the company a hold rating in a research report on Friday. Royal Bank of Canada increased their target price on Empire from C$41.00 to C$42.00 and gave the company a sector perform rating in a report on Friday. BMO Capital Markets lifted their price target on Empire from C$40.00 to C$43.00 and gave the stock a market perform rating in a report on Friday. National Bankshares upped their price objective on Empire from C$41.00 to C$42.00 in a research report on Thursday, August 29th. Finally, CIBC increased 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of C$43.14.

Empire Price Performance

TSE:EMP.A opened at C$39.76 on Friday. Empire has a 52 week low of C$31.45 and a 52 week high of C$41.38. The stock’s fifty day moving average is C$37.12 and its two-hundred day moving average is C$34.51. 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 company has a market capitalization of C$5.70 billion, a P/E ratio of 13.62, a P/E/G ratio of 16.20 and a beta of 0.47.

Empire Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 31st were paid a $0.20 dividend. The ex-dividend date was Monday, July 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.01%. This is a positive change from Empire’s previous quarterly dividend of $0.18. Empire’s dividend payout ratio (DPR) is 27.40%.

Insider Buying and Selling

In other Empire news, Senior Officer Vivek Sood sold 4,236 shares of Empire stock in a transaction dated Friday, July 19th. The stock was 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. In other news, Senior Officer Pierre St-Laurent sold 3,000 shares of the company’s 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 value of C$108,960.00. Also, Senior Officer Vivek Sood sold 4,236 shares of the firm’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of C$36.17, for a total transaction of C$153,228.83. Following the sale, the insider now owns 381 shares in the company, valued at C$13,781.91. Over the last quarter, insiders have sold 14,294 shares of company stock worth $504,880. Insiders own 2.15% of the company’s stock.

Empire Company Profile

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.