Empire (TSE:EMP.A) Reaches New 52-Week High at $40.70

Empire Company Limited (TSE:EMP.A - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as C$40.70 and last traded at C$40.70, with a volume of 67167 shares trading hands. The stock had previously closed at C$38.47.

Analyst Upgrades and Downgrades

EMP.A has been the subject of several recent analyst reports. BMO Capital Markets raised their target price on shares of Empire from C$35.00 to C$40.00 in a research note on Tuesday, September 3rd. National Bankshares boosted their price target on Empire from C$41.00 to C$42.00 in a research note on Thursday, August 29th. TD Securities raised their price objective 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. Desjardins upped 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. Finally, Royal Bank of Canada cut their price target on shares of Empire from C$42.00 to C$41.00 and set a "sector perform" rating on the stock in a report on Friday, June 21st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Empire currently has a consensus rating of "Hold" and an average price target of C$39.57.

Empire Price Performance

The company has a debt-to-equity ratio of 134.59, a current ratio of 0.80 and a quick ratio of 0.29. The stock has a fifty day simple moving average of C$36.95 and a 200-day simple moving average of C$34.45. The company has a market capitalization of C$5.83 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 16.20 and a beta of 0.47.

Empire Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 31st were paid a $0.20 dividend. This is a boost from Empire's previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Monday, July 15th. Empire's payout ratio is currently 27.40%.

Insider Buying and Selling

In other news, Senior Officer Pierre St-Laurent sold 3,000 shares of the firm'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. In other Empire news, Senior Officer Vivek Sood sold 4,236 shares of the company's stock in a transaction on Friday, July 19th. The shares were sold at an average price of C$36.17, for a total transaction of C$153,228.83. Following the completion of the transaction, the insider now directly owns 381 shares in the company, valued at C$13,781.91. Also, Senior Officer Pierre St-Laurent sold 3,000 shares of Empire stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of C$36.32, for a total transaction of C$108,960.00. Over the last three months, insiders have sold 14,294 shares of company stock valued at $504,880. Corporate 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.