Loblaw Companies Limited (TSE:L – Get Free Report) reached a new 52-week high during mid-day trading on Thursday after National Bank Financial raised their price target on the stock from C$70.00 to C$72.00. National Bank Financial currently has an outperform rating on the stock. Loblaw Companies traded as high as C$70.27 and last traded at C$70.27, with a volume of 49,790 shares trading hands. The stock had previously closed at C$68.46.
L has been the topic of several other research reports. BMO Capital Markets raised their target price on shares of Loblaw Companies from C$70.00 to C$73.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. TD Securities upgraded shares of Loblaw Companies to a “strong-buy” rating in a report on Wednesday, July 29th. TD set a C$75.00 price target on shares of Loblaw Companies and gave the company a “buy” rating in a research report on Thursday, September 10th. Scotia increased their price target on shares of Loblaw Companies from C$64.00 to C$67.00 and gave the company a “sector perform” rating in a research report on Friday, July 31st. Finally, Desjardins raised their price target on shares of Loblaw Companies from C$70.00 to C$72.00 and gave the stock a “buy” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$71.67.
Check Out Our Latest Stock Report on Loblaw Companies
Insider Buying and Selling at Loblaw Companies
In other news, insider Mark William Henry Wilson sold 24,496 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of C$62.68, for a total value of C$1,535,409.28. Also, insider David Markwell sold 56,240 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of C$62.07, for a total value of C$3,490,816.80. Over the last 90 days, insiders sold 324,121 shares of company stock valued at $20,118,530. 53.77% of the stock is currently owned by company insiders.
Loblaw Companies Price Performance
The firm has a fifty day moving average of C$62.82 and a 200 day moving average of C$63.12. The company has a market capitalization of C$81.78 billion, a P/E ratio of 29.99, a P/E/G ratio of 3.23 and a beta of 0.02. The company has a current ratio of 1.06, a quick ratio of 0.68 and a debt-to-equity ratio of 151.15.
Loblaw Companies (TSE:L – Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported C$0.66 earnings per share for the quarter. The business had revenue of C$15.05 billion during the quarter. Loblaw Companies had a net margin of 4.32% and a return on equity of 25.25%. On average, equities research analysts anticipate that Loblaw Companies Limited will post 9.12 EPS for the current year.
Loblaw Companies Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, October 1st were given a dividend of $0.1552 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 15th. Loblaw Companies’s payout ratio is presently 24.51%.
Loblaw Companies Company Profile
Loblaw is Canada’s food and pharmacy leader, and the nation’s largest retailer. Loblaw provides Canadians with grocery, pharmacy, health and beauty, apparel, general merchandise, financial services and wireless mobile products and services. With more than 2,800 corporate franchised and Associate-owned locations, Loblaw, its franchisees and Associate-owners employ more than 220,000 full- and part-time employees, making it one of Canada’s largest private sector employers. Loblaw’s purpose – Live Life Well® – puts first the needs and well-being of Canadians who make one billion transactions annually in the company’s stores.
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