George Weston (TSE:WN) Stock Passes Above 200-Day Moving Average – Here’s What Happened

George Weston Limited (TSE:WN)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$97.02 and traded as high as C$103.75. George Weston shares last traded at C$103.47, with a volume of 527,113 shares.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Canadian Imperial Bank of Commerce cut their price target on George Weston from C$127.00 to C$117.00 in a research note on Wednesday, May 13th. Scotia cut their price target on George Weston from C$106.00 to C$102.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 13th. Finally, TD Securities upped their price target on George Weston from C$108.00 to C$121.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$108.86.

George Weston Price Performance

The company has a 50-day simple moving average of C$97.29 and a 200-day simple moving average of C$97.02. The stock has a market cap of C$39.01 billion, a PE ratio of 36.18, a PEG ratio of 5.03 and a beta of 0.32. The company has a debt-to-equity ratio of 411.08, a current ratio of 1.11 and a quick ratio of 0.73.

George Weston (TSE:WN) last released its quarterly earnings data on Tuesday, May 12th. The company reported C$0.91 earnings per share (EPS) for the quarter. George Weston had a return on equity of 21.74% and a net margin of 1.80%.The firm had revenue of C$14.64 billion during the quarter. Sell-side analysts anticipate that George Weston Limited will post 13.0245758 EPS for the current fiscal year.

Insider Transactions at George Weston

In other news, insider Richard Dufresne sold 6,825 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of C$95.07, for a total transaction of C$648,852.75. Following the completion of the transaction, the insider directly owned 19,911 shares of the company’s stock, valued at C$1,892,938.77. This trade represents a 25.53% decrease in their position. Also, Director Willard Galen Garfield Weston sold 21,729 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of C$95.07, for a total transaction of C$2,065,776.03. Following the transaction, the director directly owned 85,584 shares of the company’s stock, valued at approximately C$8,136,470.88. This trade represents a 20.25% decrease in their ownership of the stock. Insiders own 59.41% of the company’s stock.

About George Weston

George Weston is a holding company that operates through two subsidiaries encompassing retail and real estate. The first is Loblaw, the largest grocer in Canada, in which it has a 53% controlling stake. The second is Choice Properties, an open-ended real estate investment trust, where George Weston’s ownership sits close to 62%. The company sold Weston Foods, a North American bakery, in early 2022, which the firm had previously wholly owned. While the two remaining entities are separate, they operate under a contractual, as well as tacit, framework of strategic business partnerships.