Brokerages Set Loblaw Companies Limited (TSE:L) Price Target at C$69.25

Loblaw Companies Limited (TSE:L) has been given a consensus rating of “Moderate Buy” by the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$69.25.

Several analysts have issued reports on the stock. Scotiabank downgraded shares of Loblaw Companies from an “outperform” rating to a “hold” rating and set a C$70.00 price objective for the company. in a research report on Thursday, April 9th. Desjardins increased their price objective on shares of Loblaw Companies from C$67.00 to C$70.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Canadian Imperial Bank of Commerce lowered their price objective on shares of Loblaw Companies from C$75.00 to C$69.00 in a research report on Thursday, May 7th. BMO Capital Markets increased their price objective on shares of Loblaw Companies from C$63.00 to C$68.00 and gave the company a “market perform” rating in a research report on Monday, February 23rd. Finally, TD Securities increased their price objective on shares of Loblaw Companies from C$65.00 to C$75.00 and gave the company a “buy” rating in a research report on Monday, February 23rd.

Insider Activity at Loblaw Companies

In other Loblaw Companies news, insider Melanie Singh sold 4,820 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of C$66.72, for a total value of C$321,590.40. Also, Director Nicholas Henn sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of C$67.00, for a total transaction of C$670,000.00. 53.77% of the stock is owned by company insiders.

Loblaw Companies Trading Down 1.0%

TSE L opened at C$64.09 on Tuesday. Loblaw Companies has a one year low of C$52.92 and a one year high of C$69.59. The company’s 50 day moving average price is C$62.40 and its 200 day moving average price is C$62.99. The company has a debt-to-equity ratio of 153.41, a quick ratio of 0.68 and a current ratio of 1.09. The firm has a market capitalization of C$74.59 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 3.23 and a beta of 0.15.

Loblaw Companies (TSE:L) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$0.52 EPS for the quarter. Loblaw Companies had a net margin of 4.29% and a return on equity of 24.88%. The firm had revenue of C$14.48 billion for the quarter. On average, sell-side analysts predict that Loblaw Companies will post 9.1225541 EPS for the current year.

Loblaw Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, July 1st will be given a $0.1552 dividend. This represents a $0.62 annualized dividend and a yield of 1.0%. This is a positive change from Loblaw Companies’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Monday, June 15th. Loblaw Companies’s dividend payout ratio is 24.53%.

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. 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.