Stock Traders Buy Large Volume of Put Options on Safeway (SWY)
Safeway (NYSE:SWY) saw some unusual options trading activity on Thursday. Stock investors bought 8,908 put options on the stock, StockRatingsNetwork.com reports. This represents an increase of 305% compared to the typical daily volume of 2,198 put options.
SWY has been the subject of a number of recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Safeway in a research note to investors on Tuesday. They now have a $37.00 price target on the stock. Separately, analysts at Citigroup Inc. raised their price target on shares of Safeway from $27.00 to $31.00 in a research note to investors on Tuesday. They now have a “neutral” rating on the stock. Finally, analysts at Jefferies Group initiated coverage on shares of Safeway in a research note to investors on Monday. They set a “hold” rating and a $32.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $28.75.
Safeway (NYSE:SWY) traded up 2.50% during mid-day trading on Thursday, hitting $31.57. The stock had a trading volume of 6,376,359 shares. Safeway has a 52-week low of $15.00 and a 52-week high of $32.72. The stock’s 50-day moving average is $28.96 and its 200-day moving average is $25.82. The company has a market cap of $7.536 billion and a price-to-earnings ratio of 14.01.
Safeway (NYSE:SWY) last posted its quarterly earnings results on Thursday, October 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.08. The company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.53 billion. During the same quarter last year, the company posted $0.16 earnings per share. Safeway’s revenue was up 1.1% compared to the same quarter last year. On average, analysts predict that Safeway will post $1.09 earnings per share for the current fiscal year.
Safeway Inc (NYSE:SWY) is a food and drug retailer in North America.
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