Empire (TSE:EMP.A) Hits New 1-Year High - Here's What Happened

Empire Company Limited (TSE:EMP.A - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$47.35 and last traded at C$47.28, with a volume of 73855 shares. The stock had previously closed at C$46.63.

Analyst Upgrades and Downgrades

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

Empire Price Performance

The company has a current ratio of 0.79, a quick ratio of 0.29 and a debt-to-equity ratio of 135.51. The stock has a market capitalization of C$6.83 billion, a PE ratio of 17.74, a PEG ratio of 16.20 and a beta of 0.48. The business has a fifty day moving average price of C$44.33 and a 200-day moving average price of C$42.66.

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Empire Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 30th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Tuesday, April 15th. Empire's payout ratio is presently 29.20%.

Insider Activity

In related news, Senior Officer Matthew Reindel sold 1,852 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of C$46.16, for a total transaction of C$85,488.32. Also, Senior Officer Pierre St-Laurent sold 5,354 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of C$44.96, for a total value of C$240,715.84. Over the last three months, insiders have sold 8,190 shares of company stock valued at $370,040. 2.18% of the stock is currently owned by insiders.

Empire Company Profile

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.