Insider Selling: Safeway SVP Sells 5,000 Shares of Stock (SWY)
Safeway (NYSE:SWY) SVP David Stern sold 5,000 shares of the stock on the open market in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $32.95, for a total transaction of $164,750.00. Following the completion of the sale, the senior vice president now directly owns 20,333 shares of the company’s stock, valued at approximately $669,972. The sale was disclosed in a document filed with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at BMO Capital Markets initiated coverage on shares of Safeway in a research note to investors on Wednesday. They set an “outperform” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Safeway to $40.00 in a research note to investors on Friday, October 11th. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of Safeway in a research note to investors on Friday, October 11th. They now have a $40.00 price target on the stock, up previously from $34.00. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $32.42.
Safeway (NYSE:SWY) traded down 0.06% on Friday, hitting $33.36. 3,151,339 shares of the company’s stock traded hands. Safeway has a 52 week low of $15.94 and a 52 week high of $33.91. The stock has a 50-day moving average of $29.89 and a 200-day moving average of $26.06. The company has a market cap of $7.986 billion and a P/E ratio of 18.47.
Safeway (NYSE:SWY) last released its earnings data on Thursday, October 10th. The company reported $0.10 earnings per share for the quarter, missing the analysts’ 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 $1.01 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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