Safeway EVP Unloads $9,083,000 in Stock (SWY)
Safeway (NYSE:SWY) EVP Larree Renda unloaded 293,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $31.00, for a total transaction of $9,083,000.00. Following the completion of the transaction, the executive vice president now directly owns 93,991 shares in the company. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. 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, September 13th. 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 company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $26.27.
Safeway (NYSE:SWY) traded down 0.29% during mid-day trading on Thursday, hitting $31.26. 8,810,461 shares of the company’s stock traded hands. Safeway has a 1-year low of $15.00 and a 1-year high of $31.51. The stock has a 50-day moving average of $26.35 and a 200-day moving average of $25.03. The company has a market cap of $7.462 billion and a P/E ratio of 14.26. Safeway also saw unusually large options trading on Monday. Stock investors acquired 41,553 call options on the stock. This is an increase of approximately 782% compared to the average daily volume of 4,711 call options.
Safeway (NYSE:SWY) last announced its earnings results on Thursday, July 18th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the 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. The company’s quarterly revenue was down 1.6% on a year-over-year basis. 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 2.55%. 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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