Loblaw Companies (TSE:L) Price Target Raised to C$267.00

Loblaw Companies (TSE:L) had its target price increased by Royal Bank Of Canada from C$234.00 to C$267.00 in a report published on Monday morning,BayStreet.CA reports.

L has been the topic of several other research reports. BMO Capital Markets upped their price target on Loblaw Companies from C$200.00 to C$220.00 in a research note on Thursday, May 1st. Scotiabank boosted their target price on Loblaw Companies from C$215.00 to C$245.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Desjardins boosted their target price on Loblaw Companies from C$185.00 to C$230.00 and gave the company a “hold” rating in a research report on Thursday, May 1st. National Bankshares upped their price objective on Loblaw Companies from C$234.00 to C$235.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Finally, UBS Group upped their price objective on Loblaw Companies from C$210.00 to C$253.00 in a research report on Thursday, May 1st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$241.13.

Loblaw Companies Trading Down 0.0%

L opened at C$217.51 on Monday. The company has a debt-to-equity ratio of 166.11, a current ratio of 1.29 and a quick ratio of 0.68. The company’s 50 day simple moving average is C$223.65 and its two-hundred day simple moving average is C$204.74. Loblaw Companies has a 1-year low of C$162.59 and a 1-year high of C$235.17. The firm has a market capitalization of C$65.76 billion, a price-to-earnings ratio of 29.52, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17.

Loblaw Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, July 1st were given a dividend of $0.5643 per share. This represents a $2.26 dividend on an annualized basis and a dividend yield of 1.04%. This is an increase from Loblaw Companies’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, June 13th. Loblaw Companies’s dividend payout ratio (DPR) is presently 27.83%.

Insider Activity at Loblaw Companies

In other Loblaw Companies news, Senior Officer Nicholas Henn sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of C$227.00, for a total transaction of C$908,000.00. Also, Senior Officer Jeffrey Francis Leger sold 3,400 shares of the business’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of C$230.50, for a total value of C$783,700.00. Insiders have sold a total of 27,328 shares of company stock valued at $6,132,567 in the last ninety days. 53.77% of the stock is owned by insiders.

Loblaw Companies Company Profile

Loblaw is one of Canada’s largest grocery, pharmacy, and general merchandise retailers, operating the most expansive store footprint in Ontario and maintaining sizable presences in provinces like Quebec and British Columbia. Key grocery banners include Loblaw, No Frills, and Maxi, while its pharmaceutical operations are the product of its 2014 acquisition of Shoppers Drug Mart.