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

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 shares were 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 Trading Up 0.5 %

Shares of EMP.A opened at C$46.63 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.29 and a debt-to-equity ratio of 135.51. Empire Company Limited has a 1-year low of C$31.45 and a 1-year high of C$46.91. The stock has a market capitalization of C$6.55 billion, a P/E ratio of 17.02, a P/E/G ratio of 16.20 and a beta of 0.48. The business’s 50-day moving average price is C$43.88 and its 200 day moving average price is C$42.32.

Empire Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 31st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.72%. Empire’s dividend payout ratio is currently 29.20%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. CIBC boosted their target price on Empire from C$47.00 to C$55.00 in a report on Friday, December 13th. Desjardins boosted their price objective on Empire from C$47.00 to C$50.00 in a research note on Sunday, December 15th. BMO Capital Markets raised their target price on Empire from C$44.00 to C$48.00 in a research note on Friday, December 13th. TD Securities upped their price target on shares of Empire from C$44.00 to C$48.00 and gave the company a “hold” rating in a report on Friday, December 13th. Finally, Scotiabank raised shares of Empire from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from C$47.00 to C$49.00 in a research note on Friday, March 14th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target 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.