George Weston (TSE:WN) Sets New 1-Year High Following Dividend Announcement

Shares of George Weston Limited (TSE:WNGet Rating) reached a new 52-week high during trading on Tuesday after the company announced a dividend. The company traded as high as C$162.93 and last traded at C$162.46, with a volume of 43358 shares traded. The stock had previously closed at C$159.32.

The newly announced dividend which will be paid on Sunday, January 1st. Shareholders of record on Thursday, December 15th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $2.64 dividend on an annualized basis and a yield of 1.59%. George Weston’s payout ratio is 22.08%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WN. Royal Bank of Canada increased their price objective on George Weston from C$197.00 to C$203.00 and gave the stock an “outperform” rating in a research report on Friday, November 18th. TD Securities increased their price objective on George Weston from C$185.00 to C$190.00 and gave the stock a “buy” rating in a research report on Friday, November 18th. BMO Capital Markets raised their price target on George Weston from C$166.00 to C$172.00 in a report on Wednesday. CIBC raised their price target on George Weston from C$193.00 to C$204.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Scotiabank raised their price target on George Weston from C$168.00 to C$175.00 in a report on Wednesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$183.67.

George Weston Stock Performance

The firm has a fifty day moving average of C$148.87 and a 200-day moving average of C$151.19. The stock has a market capitalization of C$24.01 billion and a price-to-earnings ratio of 14.89. The company has a quick ratio of 0.78, a current ratio of 1.38 and a debt-to-equity ratio of 150.48.

George Weston Company Profile

(Get Rating)

George Weston Limited provides food and drug retailing, and financial services in Canada and internationally. The company operates through two segments, Loblaw Companies Limited (Loblaw) and Choice Properties Real Estate Investment Trust (Choice Properties). The Loblaw segment provides grocery, pharmacy, health and beauty, apparel, general merchandise, and financial services.

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