Loblaw Companies (TSE:L) PT Raised to C$157.00 at Desjardins

Loblaw Companies (TSE:L) had its price objective increased by Desjardins from C$148.00 to C$157.00 in a research report sent to investors on Monday morning, BayStreet.CA reports. Desjardins currently has a hold rating on the stock. Desjardins also issued estimates for Loblaw Companies’ Q1 2024 earnings at $1.72 EPS, Q2 2024 earnings at $2.14 EPS, Q3 2024 earnings at $2.47 EPS and FY2025 earnings at $9.27 EPS.

L has been the topic of several other research reports. Royal Bank of Canada lifted their price target on shares of Loblaw Companies from C$170.00 to C$172.00 and gave the stock an outperform rating in a research note on Wednesday, January 24th. National Bankshares lifted their price target on shares of Loblaw Companies from C$153.00 to C$156.00 and gave the stock an outperform rating in a research note on Monday, April 15th. Scotiabank lifted their price target on shares of Loblaw Companies from C$146.00 to C$148.27 and gave the stock a sector perform rating in a research note on Monday, April 22nd. CIBC dropped their target price on shares of Loblaw Companies from C$150.00 to C$149.00 and set an outperform rating for the company in a research report on Friday, February 23rd. Finally, BMO Capital Markets boosted their target price on shares of Loblaw Companies from C$130.00 to C$145.00 in a research report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of C$155.32.

Loblaw Companies Stock Performance

Shares of L stock opened at C$152.84 on Monday. Loblaw Companies has a 52 week low of C$110.52 and a 52 week high of C$154.70. The company has a market cap of C$47.27 billion, a PE ratio of 23.44, a P/E/G ratio of 2.53 and a beta of 0.12. The company has a current ratio of 1.25, a quick ratio of 0.68 and a debt-to-equity ratio of 156.41. The company’s fifty day simple moving average is C$149.05 and its 200-day simple moving average is C$133.58.

Loblaw Companies (TSE:L) last released its quarterly earnings results on Thursday, February 22nd. The company reported C$2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.92 by C$0.08. Loblaw Companies had a net margin of 3.53% and a return on equity of 18.96%. The firm had revenue of C$14.53 billion for the quarter, compared to the consensus estimate of C$14.58 billion. As a group, equities research analysts anticipate that Loblaw Companies will post 8.4881297 EPS for the current year.

Loblaw Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, April 1st were issued a $0.446 dividend. This represents a $1.78 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Thursday, March 14th. Loblaw Companies’s dividend payout ratio (DPR) is presently 27.30%.

Insider Activity

In other news, Senior Officer Kieran Barry Columb sold 10,000 shares of Loblaw Companies stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of C$150.00, for a total value of C$1,500,000.00. In other news, Senior Officer Kieran Barry Columb sold 10,000 shares of Loblaw Companies stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of C$150.00, for a total value of C$1,500,000.00. Also, Senior Officer Frank Gambioli sold 4,603 shares of Loblaw Companies stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of C$144.00, for a total transaction of C$662,832.00. In the last three months, insiders sold 71,495 shares of company stock valued at $10,547,163. Company insiders own 52.69% of the company’s stock.

About Loblaw Companies

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy and healthcare services, health and beauty products, apparels, general merchandise, financial services, and wireless mobile products and services 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.