Empire (TSE:EMP.A) Price Target Increased to C$47.00 by Analysts at CIBC

Empire (TSE:EMP.A) had its price objective upped by CIBC from C$40.00 to C$47.00 in a research report report published on Friday, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

EMP.A has been the subject of a number of other research reports. BMO Capital Markets boosted their price target on Empire from C$40.00 to C$43.00 and gave the company a market perform rating in a research note on Friday. Desjardins lifted their target price on Empire from C$38.00 to C$40.00 and gave the company a buy rating in a research report on Monday, June 24th. Royal Bank of Canada lifted their target price on Empire from C$41.00 to C$42.00 and gave the company a sector perform rating in a research report on Friday. TD Securities lifted their target price on Empire from C$36.00 to C$38.00 and gave the company a hold rating in a research report on Monday, June 24th. Finally, National Bankshares lifted their target price on Empire from C$41.00 to C$42.00 in a research report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of C$43.14.

Empire Trading Down 2.6 %

Shares of Empire stock opened at C$39.57 on Friday. The business has a fifty day simple moving average of C$37.03 and a two-hundred day simple moving average of C$34.48. Empire has a 1 year low of C$31.45 and a 1 year high of C$41.38. The company has a market capitalization of C$5.68 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 16.20 and a beta of 0.47. The company has a debt-to-equity ratio of 134.59, a current ratio of 0.80 and a quick ratio of 0.29.

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 given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.02%. This is a boost from Empire’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, July 15th. Empire’s dividend payout ratio (DPR) is currently 27.40%.

Insider Activity at Empire

In related news, Director William Linton sold 7,058 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of C$34.39, for a total transaction of C$242,690.74. Following the transaction, the director now owns 875 shares in the company, valued at C$30,087.05. In other Empire news, Director William Linton sold 7,058 shares of Empire 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 sale, the director now directly owns 875 shares in the company, valued at approximately C$30,087.05. Also, Senior Officer Pierre St-Laurent sold 3,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of C$36.32, for a total transaction of C$108,960.00. Insiders sold a total of 14,294 shares of company stock valued at $504,880 in the last three months. Company insiders own 2.15% of the company’s stock.

About Empire

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.