Empire (TSE:EMP.A) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

Empire Company Limited (TSE:EMP.A) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$38.64 and traded as high as C$44.02. Empire shares last traded at C$43.89, with a volume of 180,600 shares.

Analyst Ratings Changes

Several analysts have recently weighed in on EMP.A shares. BMO Capital Markets boosted their target price on Empire from C$44.00 to C$48.00 in a report on Friday, December 13th. CIBC upped their price target on shares of Empire from C$47.00 to C$55.00 in a research report on Friday, December 13th. National Bankshares boosted their price target on Empire from C$42.00 to C$46.00 and gave the company a “sector perform” rating in a research report on Friday, September 13th. Desjardins increased their price objective on Empire from C$47.00 to C$50.00 in a research report on Sunday, December 15th. Finally, Scotiabank boosted their target price on Empire from C$44.00 to C$47.00 in a report on Friday, December 13th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$48.57.

Empire Price Performance

The stock has a fifty day moving average of C$42.23 and a two-hundred day moving average of C$38.80. The stock has a market cap of C$6.18 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 16.20 and a beta of 0.48. The company has a quick ratio of 0.29, a current ratio of 0.79 and a debt-to-equity ratio of 135.51.

Empire Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 31st will be issued a $0.20 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.82%. Empire’s dividend payout ratio is presently 29.20%.

Insider Activity at Empire

In related news, Senior Officer Simon Gagne sold 8,458 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of C$44.48, for a total value of C$376,211.84. Also, Senior Officer Matthew Reindel sold 4,587 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of C$43.81, for a total transaction of C$200,956.47. Insiders sold 96,154 shares of company stock worth $4,305,270 over the last 90 days. Company insiders own 2.18% of the company’s stock.

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.