Insider Selling: Safeway EVP Unloads 193,000 Shares of Stock (SWY)
Safeway (NYSE:SWY) EVP Diane Dietz unloaded 193,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $35.47, for a total transaction of $6,845,710.00. Following the completion of the transaction, the executive vice president now directly owns 93,487 shares in the company, valued at approximately $3,315,984. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Safeway (NYSE:SWY) traded up 0.79% during mid-day trading on Thursday, hitting $35.86. The stock had a trading volume of 5,078,207 shares. Safeway has a 1-year low of $15.00 and a 1-year high of $28.88. The stock has a 50-day moving average of $25.98 and a 200-day moving average of $24.8. The company has a market cap of $8.585 billion and a price-to-earnings ratio of 19.69. Safeway also was the recipient of unusually large options trading activity on Wednesday. Traders bought 42,418 call options on the stock. This represents an increase of approximately 962% compared to the average daily volume of 3,996 call options.
Safeway (NYSE:SWY) last announced its 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 in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. Analysts expect that Safeway will post $1.01 EPS for the current fiscal year.
A number of analysts have recently weighed in on SWY shares. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Safeway in a research note to investors on Wednesday. They now have a $40.00 price target on the stock. Separately, analysts at Cantor Fitzgerald reiterated a “sell” rating on shares of Safeway in a research note to investors on Wednesday. Finally, analysts at BMO Capital Markets initiated coverage on shares of Safeway in a research note to investors on Wednesday, October 16th. They set an “outperform” rating on the stock. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $33.27.
Safeway Inc (NYSE:SWY) is a food and drug retailer in North America.
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