Insider Selling: Safeway SVP Sells 54,000 Shares of Stock (SWY)
Safeway (NYSE:SWY) SVP Melissa Plaisance sold 54,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $32.00, for a total value of $1,728,000.00. Following the completion of the sale, the senior vice president now directly owns 23,872 shares in the company, valued at approximately $763,904. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Barclays Capital upgraded shares of Safeway (NYSE:SWY) from an “underweight” rating to an “equal weight” rating in a research note to investors on Monday. Separately, 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. Finally, analysts at Wolfe Research upgraded shares of Safeway (NYSE:SWY) to an “outperform” rating in a research note to investors on Monday, August 19th.
Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. Safeway presently has an average rating of “Hold” and an average target price of $26.90.
Shares of Safeway (NYSE:SWY) traded down 0.28% during mid-day trading on Wednesday, hitting $31.99. The stock had a trading volume of 3,011,812 shares. Safeway has a one year low of $15.00 and a one year high of $32.61. The stock has a 50-day moving average of $27.05 and a 200-day moving average of $25.26. The company has a market cap of $7.636 billion and a P/E ratio of 14.60. Safeway also saw some unusual options trading activity on Monday. Traders bought 7,426 call options on the company. This is an increase of 124% compared to the typical daily volume of 3,312 call options.
Safeway (NYSE:SWY) last issued its quarterly earnings data 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. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts predict that Safeway will post $1.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 10th. Stockholders 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 2.49%. 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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