Empire Company Limited (TSE:EMP.A) Senior Officer Matthew Reindel Sells 1,852 Shares of Stock

Empire Company Limited (TSE:EMP.A) Senior Officer Matthew Reindel sold 1,852 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of C$46.16, for a total value of C$85,488.32.

Matthew Reindel also recently made the following trade(s):

• On Friday, March 21st, Matthew Reindel sold 217 shares of Empire stock. The stock was sold at an average price of C$46.10, for a total transaction of C$10,003.70.
• On Monday, March 17th, Matthew Reindel sold 767 shares of Empire stock. The stock was sold at an average price of C$44.11, for a total transaction of C$33,832.37.

Empire Price Performance

Shares of TSE EMP.A opened at C$45.89 on Thursday. The stock has a fifty day moving average of C$43.71 and a 200-day moving average of C$42.23. The stock has a market cap of C$6.44 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 16.20 and a beta of 0.48. The company has a debt-to-equity ratio of 135.51, a quick ratio of 0.29 and a current ratio of 0.79. Empire Company Limited has a fifty-two week low of C$31.45 and a fifty-two week high of C$46.91.

Empire Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 31st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Wednesday, January 15th. Empire’s dividend payout ratio is presently 29.20%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Desjardins increased their target price on shares of Empire from C$47.00 to C$50.00 in a research report on Sunday, December 15th. TD Securities increased their price objective on Empire from C$44.00 to C$48.00 and gave the company a “hold” rating in a report on Friday, December 13th. BMO Capital Markets upped their price target on Empire from C$44.00 to C$48.00 in a research report on Friday, December 13th. Scotiabank upgraded Empire from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$47.00 to C$49.00 in a research note on Friday, March 14th. Finally, CIBC boosted their price objective on Empire from C$47.00 to C$55.00 in a research note on Friday, December 13th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$48.86.

About Empire

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.