Empire (TSE:EMP.A) PT Raised to C$42.00

Empire (TSE:EMP.A) had its price target hoisted by Royal Bank of Canada from C$41.00 to C$42.00 in a research note issued to investors on Friday morning, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

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

Empire Stock 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 company has a 50-day simple moving average of C$37.12 and a 200 day simple moving average of C$34.51. The company has a market capitalization of C$5.70 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 16.20 and a beta of 0.47. The company has a debt-to-equity ratio of 134.59, a quick ratio of 0.29 and a current ratio of 0.80.

Empire Increases Dividend

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

Insiders Place Their Bets

In related news, Senior Officer Pierre St-Laurent sold 3,000 shares of Empire stock in a transaction 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. In related news, Senior Officer Pierre St-Laurent sold 3,000 shares of Empire stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of C$36.32, for a total transaction of C$108,960.00. Also, Senior Officer Vivek Sood sold 4,236 shares of the company’s 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 completion of the sale, the insider now directly owns 381 shares in the company, valued at C$13,781.91. Insiders have sold a total of 14,294 shares of company stock valued at $504,880 in the last quarter. 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.