Safeway Sees Large Increase in Short Interest (SWY)
Shares of Safeway (NYSE:SWY) saw a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 14,007,264 shares, an increase of 33.3% from the April 15th total of 10,507,653 shares, Analyst Ratings Network.com reports. Based on an average trading volume of 2,255,892 shares, the short-interest ratio is currently 6.2 days. Currently, 6.1% of the shares of the company are short sold.
A number of analysts have recently weighed in on SWY shares. Analysts at JPMorgan Chase & Co. cut their price target on shares of Safeway from $40.00 to $36.00 in a research note on Thursday, April 24th. Separately, analysts at Cantor Fitzgerald reiterated a “hold” rating on shares of Safeway in a research note on Tuesday, April 22nd. They now have a $34.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Safeway in a research note on Thursday, April 17th. They now have a $36.00 price target on the stock, down previously from $40.00. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Safeway currently has a consensus rating of “Hold” and an average price target of $35.82.
Safeway (NYSE:SWY) opened at 34.34 on Wednesday. Safeway has a 1-year low of $19.9284 and a 1-year high of $36.034. The stock’s 50-day moving average is $34.0 and its 200-day moving average is $31.51. The company has a market cap of $7.833 billion and a price-to-earnings ratio of 2.52.
Safeway (NYSE:SWY) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.06 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.18 by $0.12. The company had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.26 billion. During the same quarter in the prior year, the company posted $0.35 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts expect that Safeway will post $1.11 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, July 10th. Stockholders of record on Thursday, June 19th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Tuesday, June 17th. This is a boost from Safeway’s previous quarterly dividend of $0.18.
Safeway Inc (NYSE:SWY) is a food and drug retailer in North America.
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