Michael Bennett Medline Purchases 9,700 Shares of Empire Company Limited (TSE:EMP.A) Stock

Empire Company Limited (TSE:EMP.AGet Rating) Director Michael Bennett Medline bought 9,700 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were acquired at an average cost of C$35.90 per share, for a total transaction of C$348,191.20. Following the purchase, the director now directly owns 86,344 shares in the company, valued at approximately C$3,099,404.22.

Empire Stock Up 0.1 %

Shares of EMP.A stock opened at C$36.38 on Thursday. Empire Company Limited has a fifty-two week low of C$34.71 and a fifty-two week high of C$46.04. The company has a debt-to-equity ratio of 145.35, a quick ratio of 0.35 and a current ratio of 0.76. The firm has a market capitalization of C$13.04 billion and a PE ratio of 12.99. The stock’s 50-day simple moving average is C$38.54 and its 200-day simple moving average is C$40.80.

Empire Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Friday, July 29th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, July 14th. This represents a $0.66 dividend on an annualized basis and a yield of 1.81%. This is an increase from Empire’s previous quarterly dividend of $0.15. Empire’s dividend payout ratio is currently 21.96%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EMP.A shares. TD Securities decreased their target price on Empire from C$45.00 to C$43.00 and set a “buy” rating on the stock in a research note on Friday, September 16th. BMO Capital Markets reduced their price objective on Empire from C$42.00 to C$37.00 in a research note on Friday, September 16th. Scotiabank reduced their price objective on Empire from C$52.00 to C$51.00 in a research note on Friday, September 16th. CIBC reduced their price objective on Empire from C$47.00 to C$45.00 and set an “outperform” rating on the stock in a research note on Friday, September 16th. Finally, National Bankshares cut their target price on Empire from C$42.00 to C$40.00 in a research report on Friday, September 16th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Empire presently has a consensus rating of “Moderate Buy” and an average price target of C$44.44.

About Empire

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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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