George Weston Limited (TSE:WN) shares hit a new 52-week low on Friday . The stock traded as low as C$101.29 and last traded at C$101.51, with a volume of 38092 shares traded. The stock had previously closed at C$102.42.
Several brokerages have weighed in on WN. Barclays increased their target price on shares of George Weston from C$108.00 to C$109.00 in a research note on Monday, March 5th. Scotiabank lowered their price objective on shares of George Weston from C$115.00 to C$111.00 and set a “sector perform” rating for the company in a research note on Monday, March 5th. Royal Bank of Canada raised their price objective on shares of George Weston from C$137.00 to C$138.00 and gave the company an “outperform” rating in a research note on Monday, March 5th. Finally, CIBC lowered their price objective on shares of George Weston from C$119.00 to C$115.00 in a research note on Monday, March 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of C$119.83.
The firm has a market cap of $13,510.00, a P/E ratio of 18.77 and a beta of 0.35.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Thursday, March 15th will be paid a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Wednesday, March 14th. George Weston’s payout ratio is 33.55%.
In related news, insider Rashid Wasti sold 6,116 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of C$105.85, for a total value of C$647,378.60. Also, Director Paviter Singh Binning sold 31,068 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of C$105.85, for a total transaction of C$3,288,547.80. In the last three months, insiders bought 1,300 shares of company stock valued at $56,853.
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About George Weston
George Weston Limited is a holding company engaged in food processing and distribution business. The Company, through its two operating segments, Weston Foods and Loblaw, holds cash, short-term investments and a direct investment in Choice Properties Real Estate Investment Trust (Choice Properties). The Weston Foods operating segment includes a fresh bakery business in Canada, and frozen, artisan style bakery and biscuit businesses throughout North America.
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