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

Empire Company Limited (TSE:EMP.A - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$35.56 and traded as high as C$41.07. Empire shares last traded at C$40.57, with a volume of 549,435 shares changing hands.

Wall Street Analysts Forecast Growth

EMP.A has been the subject of several analyst reports. National Bankshares upped their target price on Empire from C$42.00 to C$46.00 and gave the company a "sector perform" rating in a research note on Friday, September 13th. Desjardins upped their price objective on shares of Empire from C$42.00 to C$44.00 and gave the company a "buy" rating in a research note on Friday, September 13th. TD Securities increased their price objective on shares of Empire from C$38.00 to C$44.00 and gave the stock a "hold" rating in a report on Friday, September 13th. BMO Capital Markets boosted their target price on shares of Empire from C$40.00 to C$43.00 and gave the company a "market perform" rating in a report on Friday, September 13th. Finally, Royal Bank of Canada increased their price target on shares of Empire from C$41.00 to C$42.00 and gave the stock a "sector perform" rating in a research note on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Empire has an average rating of "Hold" and a consensus target price of C$43.14.

Empire Price Performance

The company has a debt-to-equity ratio of 135.51, a quick ratio of 0.29 and a current ratio of 0.79. The business's fifty day simple moving average is C$39.14 and its 200 day simple moving average is C$35.56. The stock has a market cap of C$5.70 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 16.20 and a beta of 0.48.

Empire Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 31st will be paid a $0.20 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.97%. Empire's dividend payout ratio (DPR) is presently 29.20%.

Insider Buying and Selling

In related news, Senior Officer Pierre St-Laurent sold 4,850 shares of the firm's stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of C$41.21, for a total transaction of C$199,868.50. In other news, Senior Officer Douglas Bigler Nathanson sold 3,658 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of C$40.26, for a total transaction of C$147,252.79. Also, Senior Officer Pierre St-Laurent sold 4,850 shares of the firm's stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of C$41.21, for a total value of C$199,868.50. Over the last three months, insiders sold 13,033 shares of company stock worth $526,583. Corporate insiders own 2.18% 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.