Empire (TSE:EMP.A) Price Target Raised to C$43.00 at BMO Capital Markets

Empire (TSE:EMP.A) had its price target hoisted by BMO Capital Markets from C$40.00 to C$43.00 in a research report sent to investors on Friday, BayStreet.CA reports. The brokerage currently has a market perform rating on the stock.

Several other research analysts have also recently weighed in on EMP.A. National Bankshares upped their price target on shares of Empire from C$41.00 to C$42.00 in a report on Thursday, August 29th. Desjardins raised their price objective on Empire from C$38.00 to C$40.00 and gave the company a buy rating in a research note on Monday, June 24th. Royal Bank of Canada dropped their target price on shares of Empire from C$42.00 to C$41.00 and set a sector perform rating for the company in a report on Friday, June 21st. Finally, TD Securities increased their target price on shares of Empire from C$36.00 to C$38.00 and gave the stock a hold rating in a report on Monday, June 24th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of C$43.14.

Empire Price Performance

Empire stock opened at C$39.57 on Friday. Empire has a 12 month low of C$31.45 and a 12 month high of C$41.38. The company has a current ratio of 0.80, a quick ratio of 0.29 and a debt-to-equity ratio of 134.59. The business’s 50 day simple moving average is C$37.03 and its 200 day simple moving average is C$34.48. The company has a market cap of C$5.68 billion, a price-to-earnings ratio of 13.55, a PEG 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. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.20 per share. The ex-dividend date was Monday, July 15th. This is a positive change from Empire’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 2.02%. Empire’s payout ratio is currently 27.40%.

Insider Transactions at Empire

In related news, Director William Linton sold 7,058 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of C$34.39, for a total value of C$242,690.74. Following the completion of the transaction, the director now owns 875 shares of the company’s stock, valued at approximately C$30,087.05. In other news, Senior Officer Vivek Sood sold 4,236 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of C$36.17, for a total transaction of C$153,228.83. Following the sale, the insider now directly owns 381 shares in the company, valued at approximately C$13,781.91. Also, Director William Linton sold 7,058 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of C$34.39, for a total transaction of C$242,690.74. Following the completion of the sale, the director now directly owns 875 shares in the company, valued at C$30,087.05. Insiders sold 14,294 shares of company stock worth $504,880 in the last three months. Corporate 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.