Empire (TSE:EMP.A – Free Report) had its target price raised by CIBC from C$40.00 to C$47.00 in a report published on Friday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.
Other equities analysts have also issued research reports about the company. Royal Bank of Canada lifted their price target on Empire from C$41.00 to C$42.00 and gave the stock a sector perform rating in a research report on Friday. National Bankshares increased their price objective on shares of Empire from C$41.00 to C$42.00 in a research note on Thursday, August 29th. BMO Capital Markets raised 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 research note on Friday. Desjardins raised their target price 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. Finally, TD Securities increased their price objective on shares of Empire from C$36.00 to C$38.00 and gave the company a hold rating in a research report on Monday, June 24th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of C$43.14.
Get Our Latest Stock Analysis on EMP.A
Empire Trading Down 2.6 %
Empire Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 31st were issued a $0.20 dividend. This is a boost from Empire’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, July 15th. This represents a $0.80 annualized dividend and a yield of 2.02%. Empire’s payout ratio is 27.40%.
Insider Buying and Selling
In related news, Senior Officer Pierre St-Laurent sold 3,000 shares of the company’s stock in a transaction on 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 related news, Senior Officer Pierre St-Laurent sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of C$36.32, for a total transaction of C$108,960.00. Also, Director William Linton sold 7,058 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of C$34.39, for a total transaction of C$242,690.74. Following the completion of the sale, the director now owns 875 shares of the company’s stock, valued at C$30,087.05. In the last ninety days, 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.
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