Analysts have a consensus target price of $32.61 in the 12-month period. The price objective is 25.81% higher than the recent closing price of $25.92. The 52-week price range is $19.29-$26.86 and the company has a market capitalization of $10.81 billion. Analysts covering the shares maintain a consensus Strong Buy rating, according to Zacks Investment Research. Zero analyst has rated the stock with a sell rating, 0 has assigned a hold rating, 0 says it’s a buy, and 2 have assigned a strong buy rating to the company.
On March 9, 2016 Consistent with the grocer’s “Easy, Fresh and Affordable… You Can Count on Food Lion Every Day!” strategy, Food Lion has announced the company will remodel 142 stores in the greater Charlotte, N.C., market in 2016. In an effort to make shopping easier and more affordable for its customers, the company will make a $215 million investment in its stores. This includes remodeling the stores, additional price investments throughout the year and investments in associates and the community through its Food Lion Feeds initiatives.
“We’re proud to have been a part of the greater Charlotte community since 1957, and are excited to bring our newest format to our hometown market,” said Food Lion President Meg Ham. “As we near our 60th anniversary in this market, we look forward to making significant investments in our stores, our customers, our associates and our communities to offer a new grocery shopping experience. We want to ensure our customers can easily find fresh, quality products to nourish their families at affordable prices every day, delivered with caring, friendly service every time they shop.”
Since Food Lion launched its “Easy, Fresh and Affordable. You Can Count on Food Lion Every Day!” strategy in May 2014, the grocer has brought enhancements to its Charlotte stores including product expansion, new registers, price investments and enhanced service. When the remodels are complete, customers will be able to take advantage of key benefits, which include:
Fresh, new stores designed to be easier to navigate and shop so customers can get in and out of the store quickly.
Expanded variety and assortment that is relevant to our customers in each store, such as more local products, natural and organic selections and healthier snack options.
These remodels are expected to be completed in stores on a rolling basis between May and October 2016. Food Lion will continue to launch enhancements across all of its nearly 1,100 stores in 2016, as well as remodel additional markets over time. Charlotte is the fourth area to be remodeled. The company remodeled 162 stores in the greater Raleigh, N.C., area in 2015, along with 76 stores in the greater Wilmington, N.C., and Greenville, N.C., markets in 2014.
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