Safeway Inc. Sets New 1-Year High at $28.88 (SWY)
Safeway (NYSE:SWY) set a new 52-week high during mid-day trading on Friday, American Banking & Market News reports. The stock traded as high as $28.88 and last traded at $28.24, with a volume of 13,547,253 shares. The stock had previously closed at $26.59.
SWY has been the subject of a number of recent research reports. Analysts at Credit Suisse upgraded shares of Safeway (NYSE:SWY) from an “underperform” rating to an “outperform” rating in a research note to investors on Friday. Separately, analysts at Wolfe Research upgraded shares of Safeway (NYSE:SWY) to an “outperform” rating in a research note to investors on Monday, August 19th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Safeway (NYSE:SWY) in a research note to investors on Friday, August 16th. They now have a $28.00 price target on the stock.
Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $26.27.
In other Safeway news, SVP Robert A. Gordon sold 20,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $25.89, for a total value of $517,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Safeway has a one year low of $15.00 and a one year high of $28.42. The stock’s 50-day moving average is $25.91 and its 200-day moving average is $24.85. The company has a market cap of $6.738 billion and a price-to-earnings ratio of 12.10.
Safeway (NYSE:SWY) last posted its quarterly earnings results on Thursday, July 18th. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.50 by $0.01. The company had revenue of $8.70 billion for the quarter, compared to the consensus estimate of $10.45 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. Safeway’s revenue was down 1.6% compared to the same quarter last year. Analysts expect that Safeway will post $1.08 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 10th. Shareholders of record on Thursday, September 19th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Tuesday, September 17th.
Safeway Inc (NYSE:SWY) is a food and drug retailer in North America.
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