Empire (TSE:EMP.A) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Empire Company Limited (TSE:EMP.A - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$40.89 and traded as high as C$42.61. Empire shares last traded at C$42.58, with a volume of 549,288 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. BMO Capital Markets lifted their price target on shares of Empire from C$44.00 to C$48.00 in a research note on Friday, December 13th. Scotiabank lifted their price objective on shares of Empire from C$44.00 to C$47.00 in a report on Friday, December 13th. CIBC lifted their price objective on shares of Empire from C$47.00 to C$55.00 in a report on Friday, December 13th. TD Securities lifted their price objective 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, Desjardins lifted their price objective on shares of Empire from C$47.00 to C$50.00 in a report on Sunday, December 15th. Four 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, Empire currently has an average rating of "Hold" and a consensus price target of C$48.57.

Empire Trading Up 0.4 %

The firm has a market cap of C$6.04 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 16.20 and a beta of 0.48. The company has a quick ratio of 0.29, a current ratio of 0.79 and a debt-to-equity ratio of 135.51. The firm's 50-day simple moving average is C$43.25 and its 200 day simple moving average is C$40.95.

Empire Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 31st were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Wednesday, January 15th. Empire's dividend payout ratio (DPR) is currently 29.20%.

Insider Activity

In related news, Senior Officer Simon Gagne sold 8,458 shares of the company's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of C$44.48, for a total transaction of C$376,211.84. Also, Senior Officer Douglas Bigler Nathanson sold 7,265 shares of the company's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of C$45.15, for a total transaction of C$328,014.75. Insiders have sold a total of 96,154 shares of company stock valued at $4,305,270 over the last quarter. Company insiders own 2.18% of the company's stock.

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.