Safeway EVP Sells $398,860 in Stock (SWY)
Safeway (NYSE:SWY) EVP Kelly Griffith unloaded 11,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $36.26, for a total value of $398,860.00. Following the completion of the transaction, the executive vice president now directly owns 56,630 shares in the company, valued at approximately $2,053,404. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Safeway (NYSE:SWY) traded down 1.06% during mid-day trading on Tuesday, hitting $35.47. The stock had a trading volume of 2,796,813 shares. Safeway has a 1-year low of $15.00 and a 1-year high of $28.88. The stock’s 50-day moving average is $25.98 and its 200-day moving average is $24.8. The company has a market cap of $8.491 billion and a price-to-earnings ratio of 19.84.
Safeway (NYSE:SWY) last announced its earnings results on Thursday, October 10th. The company reported $0.10 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.16 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, analysts predict that Safeway will post $1.01 earnings per share for the current fiscal year.
A number of research firms have recently commented on SWY. Analysts at BB&T Corp. raised their price target on shares of Safeway from $39.00 to $44.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Safeway from $40.00 to $45.00 in a research note to investors on Friday. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Safeway in a research note to investors on Wednesday, October 23rd. They now have a $40.00 price target on the stock. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $35.00.
Safeway Inc (NYSE:SWY) is a food and drug retailer in North America.
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