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

Loblaw Companies Limited (TSE:L) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$113.50.

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

Insider Buying and Selling

In related news, insider Kieran Barry Columb sold 40,800 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of C$59.50, for a total value of C$2,427,600.00. Following the completion of the transaction, the insider directly owned 163,696 shares in the company, valued at C$9,739,912. This trade represents a 19.95% decrease in their position. Insiders sold a total of 102,044 shares of company stock worth $6,092,002 over the last ninety days. Company insiders own 53.77% of the company’s stock.

Loblaw Companies Stock Performance

Shares of TSE L opened at C$62.49 on Friday. The stock has a market cap of C$73.81 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 3.23 and a beta of 0.26. The stock’s 50-day moving average is C$61.61 and its 200 day moving average is C$95.91. The company has a current ratio of 1.29, a quick ratio of 0.68 and a debt-to-equity ratio of 166.11. Loblaw Companies has a 1-year low of C$43.32 and a 1-year high of C$63.43.

Loblaw Companies Cuts Dividend

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

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.