Empire (TSE:EMP.A) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Empire Company Limited (TSE:EMP.A)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$43.07 and traded as high as C$46.90. Empire shares last traded at C$46.40, with a volume of 448,274 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EMP.A. TD Securities lifted their target price on shares of Empire from C$44.00 to C$48.00 and gave the company a “hold” rating in a research note on Friday, December 13th. Desjardins raised their price target on Empire from C$47.00 to C$50.00 in a research note on Sunday, December 15th. Scotiabank upgraded Empire from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$47.00 to C$49.00 in a report on Friday, March 14th. CIBC lifted their target price on shares of Empire from C$47.00 to C$55.00 in a research note on Friday, December 13th. Finally, BMO Capital Markets raised their price target on shares of Empire from C$44.00 to C$48.00 in a report on Friday, December 13th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$48.86.

Empire Stock 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 firm has a market cap of C$6.52 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 16.20 and a beta of 0.48. The stock has a 50-day moving average of C$44.88 and a 200-day moving average of C$43.07.

Empire Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 30th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, April 15th. This represents a $0.80 annualized dividend and a yield of 1.72%. Empire’s dividend payout ratio (DPR) is presently 29.20%.

Insider Buying and Selling at Empire

In other news, Senior Officer Matthew Reindel sold 767 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of C$44.11, for a total transaction of C$33,832.37. Also, Senior Officer Pierre St-Laurent sold 5,354 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of C$44.96, for a total value of C$240,715.84. Insiders have sold a total of 20,459 shares of company stock worth $961,651 over the last ninety days. 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.