Loblaw Companies Limited (TSE:L) Receives C$113.50 Average Price Target from Analysts

Shares of Loblaw Companies Limited (TSE:L) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is C$113.50.

A number of research firms have recently issued reports on L. Desjardins raised Loblaw Companies from a “hold” rating to a “buy” rating and raised their price objective for the company from C$62.00 to C$67.00 in a research report on Thursday, December 4th. TD Securities raised their price target on Loblaw Companies from C$63.00 to C$65.00 in a report on Thursday, November 13th. National Bankshares lifted their price objective on shares of Loblaw Companies from C$60.00 to C$61.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. CIBC increased their price objective on shares of Loblaw Companies from C$58.50 to C$67.00 in a research report on Thursday, November 13th. Finally, BMO Capital Markets raised their target price on shares of Loblaw Companies from C$57.50 to C$63.00 in a research note on Thursday, November 13th.

Loblaw Companies Trading Down 0.2%

Shares of TSE:L opened at C$61.45 on Tuesday. Loblaw Companies has a 52-week low of C$43.32 and a 52-week high of C$63.43. The company has a debt-to-equity ratio of 166.11, a quick ratio of 0.68 and a current ratio of 1.29. The company has a market capitalization of C$72.58 billion, a P/E ratio of 30.01, a price-to-earnings-growth ratio of 3.23 and a beta of 0.28. The company has a 50-day simple moving average of C$59.96 and a 200 day simple moving average of C$116.72.

Loblaw Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 30th will be given a dividend of $0.1411 per share. The ex-dividend date is Monday, December 15th. This represents a $0.56 annualized dividend and a yield of 0.9%. Loblaw Companies’s dividend payout ratio (DPR) is 26.31%.

Insider Activity at Loblaw Companies

In other news, insider Kieran Barry Columb sold 40,800 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of C$59.50, for a total value of C$2,427,600.00. Following the transaction, the insider owned 163,696 shares of the company’s stock, valued at approximately C$9,739,912. This represents a 19.95% decrease in their ownership of the stock. Insiders sold a total of 102,044 shares of company stock valued at $6,092,002 over the last 90 days. 53.77% of the stock is currently owned by corporate 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. The firm carries a robust private-label assortment, with top sellers like President’s Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.