Empire Company Limited (TSE:EMP.A) Director Michael Bennett Medline Sells 45,474 Shares of Stock

Empire Company Limited (TSE:EMP.A) Director Michael Bennett Medline sold 45,474 shares of Empire stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of C$55.89, for a total transaction of C$2,541,541.86.

Michael Bennett Medline also recently made the following trade(s):

• On Friday, June 20th, Michael Bennett Medline sold 44,508 shares of Empire stock. The shares were sold at an average price of C$55.19, for a total transaction of C$2,456,396.52.

Empire Stock Up 0.8%

TSE EMP.A opened at C$56.13 on Friday. Empire Company Limited has a 52 week low of C$34.43 and a 52 week high of C$56.80. 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 business’s fifty day simple moving average is C$51.81 and its 200-day simple moving average is C$47.02. The firm has a market cap of C$7.88 billion, a PE ratio of 20.49, a P/E/G ratio of 16.20 and a beta of 0.48.

Empire Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 30th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, April 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.43%. Empire’s dividend payout ratio is presently 29.20%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EMP.A shares. CIBC raised their price objective on Empire from C$55.00 to C$59.00 in a report on Friday, June 20th. Royal Bank Of Canada raised their price objective on Empire from C$56.00 to C$61.00 and gave the company a “sector perform” rating in a report on Friday, June 20th. TD Securities raised their price objective on Empire from C$48.00 to C$58.00 and gave the company a “hold” rating in a report on Friday, June 20th. Scotiabank raised their price objective on Empire from C$49.00 to C$62.00 and gave the company an “outperform” rating in a report on Friday, June 20th. Finally, National Bankshares raised their price objective on Empire from C$53.00 to C$59.00 and gave the company a “sector perform” rating in a report on Friday, June 20th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Empire presently has a consensus rating of “Hold” and a consensus price target of C$57.43.

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.