Loblaw Companies (TSE:L) had its target price hoisted by TD Securities from C$80.00 to C$82.00 in a research note issued to investors on Thursday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.
Other analysts have also issued reports about the company. BMO Capital Markets dropped their target price on Loblaw Companies from C$83.00 to C$75.00 in a report on Thursday, July 25th. Royal Bank of Canada raised their target price on Loblaw Companies from C$82.00 to C$85.00 and gave the stock an outperform rating in a report on Thursday. CIBC raised their target price on Loblaw Companies from C$76.00 to C$77.00 in a report on Thursday, July 25th. Desjardins raised their price objective on Loblaw Companies from C$70.00 to C$73.00 and gave the company a buy rating in a report on Thursday, July 25th. Finally, National Bank Financial raised their price objective on Loblaw Companies from C$71.00 to C$72.00 and gave the company a sector perform rating in a report on Thursday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Loblaw Companies currently has an average rating of Buy and an average target price of C$77.14.
Loblaw Companies stock traded up C$0.40 during midday trading on Thursday, hitting C$69.68. 814,900 shares of the company were exchanged, compared to its average volume of 538,126. The firm has a market capitalization of $25.36 billion and a PE ratio of 32.21. Loblaw Companies has a fifty-two week low of C$58.03 and a fifty-two week high of C$76.31. The business has a fifty day simple moving average of C$71.88 and a two-hundred day simple moving average of C$70.18. The company has a debt-to-equity ratio of 146.60, a quick ratio of 0.71 and a current ratio of 1.34.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Sunday, December 15th will be issued a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 1.81%. The ex-dividend date is Thursday, December 12th. Loblaw Companies’s payout ratio is currently 56.40%.
In other news, Senior Officer Sarah Ruth Davis sold 19,940 shares of Loblaw Companies stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of C$72.50, for a total value of C$1,445,650.00. Following the sale, the insider now directly owns 1,477 shares of the company’s stock, valued at C$107,082.50. Also, Senior Officer Kieran Barry Columb sold 3,100 shares of Loblaw Companies stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of C$72.77, for a total value of C$225,592.89. Following the completion of the sale, the insider now directly owns 9,834 shares in the company, valued at C$715,638.86. Over the last three months, insiders sold 32,930 shares of company stock worth $2,408,048.
Loblaw Companies Company Profile
Loblaw Companies Limited, a food and pharmacy company, engages in the grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products and services businesses in Canada. It operates in two segments, Retail and Financial Services. The Retail segment operates corporate and franchise-owned retail food, and associate-owned drug stores comprising in-store pharmacies, other health and beauty product stores, apparel stores, and other general merchandise stores, as well as supports the PC Optimum reward program.
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