Loblaw Companies Limited (L) to Issue Quarterly Dividend of $0.56 on July 1st

Loblaw Companies Limited (TSE:L) announced a quarterly dividend on Friday, June 13th, TickerTech Dividends reports. Stockholders of record on Tuesday, July 1st will be paid a dividend of 0.5643 per share on Tuesday, July 1st. This represents a $2.26 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, June 13th. This is a 10.0% increase from Loblaw Companies’s previous quarterly dividend of $0.51.

Loblaw Companies Trading Up 0.0%

TSE:L traded up C$0.11 during midday trading on Wednesday, reaching C$223.65. 107,876 shares of the stock traded hands, compared to its average volume of 416,623. The company has a debt-to-equity ratio of 166.11, a quick ratio of 0.68 and a current ratio of 1.29. Loblaw Companies has a 12 month low of C$152.76 and a 12 month high of C$235.17. The stock has a market capitalization of C$67.62 billion, a P/E ratio of 30.36, a PEG ratio of 3.23 and a beta of 0.17. The company has a fifty day moving average of C$217.81 and a 200 day moving average of C$197.65.

Analyst Ratings Changes

Several brokerages have issued reports on L. Royal Bank of Canada raised their target price on Loblaw Companies from C$215.00 to C$234.00 in a research report on Monday, April 14th. UBS Group lifted their target price on Loblaw Companies from C$210.00 to C$253.00 in a report on Thursday, May 1st. Desjardins raised their price target on shares of Loblaw Companies from C$185.00 to C$230.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. TD Securities boosted their price objective on shares of Loblaw Companies from C$195.00 to C$245.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Finally, Scotiabank increased their price target on Loblaw Companies from C$215.00 to C$245.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Loblaw Companies has a consensus rating of “Moderate Buy” and a consensus target price of C$236.88.

Insider Transactions at Loblaw Companies

In related news, Senior Officer Per Bank sold 13,924 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of C$223.00, for a total transaction of C$3,105,054.78. Also, Senior Officer Frank Gambioli sold 1,304 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of C$213.87, for a total value of C$278,880.09. Insiders sold 27,328 shares of company stock valued at $6,132,567 over the last 90 days. Corporate insiders own 53.77% of the company’s stock.

About Loblaw Companies

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.