Empire (TSE:EMP.A) PT Raised to C$46.00 at National Bankshares

Empire (TSE:EMP.A) had its target price raised by National Bankshares from C$42.00 to C$46.00 in a research report report published on Friday morning, BayStreet.CA reports. National Bankshares currently has a sector perform rating on the stock.

EMP.A has been the subject of a number of other research reports. Desjardins increased their target price on shares of Empire from C$42.00 to C$44.00 and gave the stock a buy rating in a report on Friday. TD Securities increased their price objective on shares of Empire from C$38.00 to C$44.00 and gave the company a hold rating in a research note on Friday. CIBC boosted their target price on shares of Empire from C$40.00 to C$47.00 and gave the stock an outperform rating in a research note on Friday. Royal Bank of Canada upped their price target on shares of Empire from C$41.00 to C$42.00 and gave the stock a sector perform rating in a report on Friday. Finally, BMO Capital Markets raised their price objective on Empire from C$40.00 to C$43.00 and gave the company a market perform rating in a report on Friday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of C$43.14.

Empire Price Performance

Empire stock opened at C$39.76 on Friday. The stock has a fifty day moving average of C$37.12 and a 200-day moving average of C$34.51. The stock has a market capitalization of C$5.70 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 16.20 and a beta of 0.47. The company has a debt-to-equity ratio of 134.59, a quick ratio of 0.29 and a current ratio of 0.80. Empire has a 52 week low of C$31.45 and a 52 week high of C$41.38.

Empire Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Monday, July 15th. This is a positive change from Empire’s previous quarterly dividend of $0.18. Empire’s payout ratio is 27.40%.

Insider Activity at Empire

In other Empire news, Director William Linton sold 7,058 shares of Empire stock in a transaction dated 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 transaction, the director now directly owns 875 shares of the company’s stock, valued at approximately C$30,087.05. In other news, Senior Officer Pierre St-Laurent sold 3,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of C$36.32, for a total value of C$108,960.00. Also, Director William Linton sold 7,058 shares of the 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 sale, the director now owns 875 shares of the company’s stock, valued at C$30,087.05. Insiders sold 14,294 shares of company stock worth $504,880 over the last three months. Company insiders own 2.15% of the company’s stock.

About Empire

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.