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 traded.

Analyst Ratings Changes

Several research firms have commented on WN. Scotia lowered 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 report on Wednesday, May 13th. Canadian Imperial Bank of Commerce lowered their price target on George Weston from C$127.00 to C$117.00 in a report on Wednesday, May 13th. Finally, TD Securities lifted their price target on George Weston from C$108.00 to C$121.00 and gave the company a “buy” rating in a report on Friday, February 27th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, George Weston has a consensus rating of “Moderate Buy” and a consensus price target of C$108.86.

George Weston Stock Up 3.8%

The company has a debt-to-equity ratio of 411.08, a quick ratio of 0.73 and a current ratio of 1.11. The company 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 firm has a fifty day simple moving average of C$97.29 and a 200 day simple moving average of C$97.02.

George Weston (TSE:WN) last issued its earnings results 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 business had revenue of C$14.64 billion during the quarter. Equities research analysts predict that George Weston Limited will post 13.0245758 EPS for the current year.

Insider Transactions at George Weston

In other news, insider Richard Dufresne sold 6,825 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of C$95.07, for a total transaction of C$648,852.75. Following the completion of the sale, the insider owned 19,911 shares in the company, valued at approximately C$1,892,938.77. The trade was a 25.53% decrease in their position. Also, Director Willard Galen Garfield Weston sold 21,729 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of C$95.07, for a total value of C$2,065,776.03. Following the sale, the director owned 85,584 shares of the company’s stock, valued at C$8,136,470.88. The trade was a 20.25% decrease in their position. 59.41% of the stock is currently owned by insiders.

George Weston Company Profile

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.