TD Securities Increases Empire (TSE:EMP.A) Price Target to C$44.00

Empire (TSE:EMP.A) had its price objective hoisted by TD Securities from C$38.00 to C$44.00 in a research note released on Friday morning, BayStreet.CA reports. TD Securities currently has a hold rating on the stock.

Several other analysts have also recently commented on EMP.A. Desjardins raised their price objective on shares of Empire from C$38.00 to C$40.00 and gave the company a buy rating in a research note on Monday, June 24th. BMO Capital Markets lifted 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. National Bankshares upped their price target on Empire from C$41.00 to C$42.00 in a report on Thursday, August 29th. CIBC lifted their price objective on Empire from C$40.00 to C$47.00 and gave the stock an outperform rating in a report on Friday. Finally, Royal Bank of Canada upped their target price on Empire from C$41.00 to C$42.00 and gave the company a sector perform rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Empire currently has a consensus rating of Hold and an average target price of C$43.14.

Empire Trading Up 0.5 %

Shares of EMP.A stock opened at C$39.76 on Friday. Empire has a 1-year low of C$31.45 and a 1-year high of C$41.38. 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 business’s fifty day moving average price is C$37.12 and its 200 day moving average price is C$34.51. The firm has a market capitalization of C$5.70 billion, a PE ratio of 13.62, a P/E/G ratio of 16.20 and a beta of 0.47.

Empire Increases Dividend

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

Insider Activity at Empire

In other Empire news, Director William Linton sold 7,058 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of C$34.39, for a total value of C$242,690.74. Following the transaction, the director now directly owns 875 shares in the company, valued at approximately C$30,087.05. In other Empire news, Director William Linton sold 7,058 shares of Empire stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of C$34.39, for a total value of C$242,690.74. Following the completion of the sale, the director now directly owns 875 shares of the company’s stock, valued at approximately C$30,087.05. Also, Senior Officer Pierre St-Laurent sold 3,000 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of C$36.32, for a total value of C$108,960.00. Insiders have sold a total of 14,294 shares of company stock valued at $504,880 over the last quarter. Insiders own 2.15% 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.