Canadian Imperial Bank of Commerce Cuts George Weston (TSE:WN) Price Target to C$117.00

George Weston (TSE:WN) had its price target lowered by Canadian Imperial Bank of Commerce from C$127.00 to C$117.00 in a research report sent to investors on Wednesday,BayStreet.CA reports.

Several other research analysts also recently weighed in on the company. Royal Bank Of Canada upped their price target on George Weston from C$109.00 to C$115.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. 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 research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$108.86.

George Weston Trading Down 0.5%

George Weston stock opened at C$95.23 on Wednesday. George Weston has a 12-month low of C$82.77 and a 12-month high of C$104.50. The company has a current ratio of 1.11, a quick ratio of 0.73 and a debt-to-equity ratio of 145.33. The firm has a market capitalization of C$35.91 billion, a price-to-earnings ratio of 33.30, a P/E/G ratio of 5.03 and a beta of 0.54. The firm has a 50 day moving average of C$96.95 and a 200 day moving average of C$95.94.

George Weston (TSE:WN) last posted its quarterly earnings results on Tuesday, May 12th. The company reported C$0.91 earnings per share 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. As a group, research analysts predict that George Weston will post 13.0245758 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Richard Dufresne sold 6,825 shares of the 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$648,852.75. Following the completion of the transaction, the insider directly owned 19,911 shares in the company, valued at approximately C$1,892,938.77. This represents a 25.53% decrease in their position. Also, Director Willard Galen Garfield Weston sold 21,729 shares of the 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 value of C$2,065,776.03. Following the transaction, the director owned 85,584 shares of the company’s stock, valued at C$8,136,470.88. This represents a 20.25% decrease in their ownership of the stock. 59.41% of the stock is currently owned by corporate insiders.

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.