Loblaw Companies (TSE:L) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Loblaw Companies Limited (TSE:L)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$63.48 and traded as high as C$65.44. Loblaw Companies shares last traded at C$64.97, with a volume of 846,945 shares trading hands.

Analysts Set New Price Targets

L has been the topic of a number of research analyst reports. BMO Capital Markets upgraded Loblaw Companies from a “hold” rating to an “outperform” rating and boosted their price target for the stock from C$68.00 to C$70.00 in a research note on Monday, July 20th. Canadian Imperial Bank of Commerce dropped their target price on shares of Loblaw Companies from C$75.00 to C$69.00 in a research report on Thursday, May 7th. Scotiabank lowered shares of Loblaw Companies from an “outperform” rating to a “hold” rating and set a C$70.00 price target on the stock. in a research note on Thursday, April 9th. Finally, Scotia decreased their price target on shares of Loblaw Companies from C$70.00 to C$64.00 and set a “sector perform” rating for the company in a report on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Loblaw Companies presently has an average rating of “Moderate Buy” and a consensus price target of C$69.50.

Loblaw Companies Stock Down 0.2%

The business has a fifty day moving average price of C$63.95 and a two-hundred day moving average price of C$63.52. The company has a debt-to-equity ratio of 153.41, a current ratio of 1.09 and a quick ratio of 0.68. The firm has a market capitalization of C$76.85 billion, a price-to-earnings ratio of 28.71, a price-to-earnings-growth ratio of 3.23 and a beta of 0.13.

Loblaw Companies (TSE:L) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C$0.52 earnings per share (EPS) for the quarter. The firm had revenue of C$14.48 billion during the quarter. Loblaw Companies had a return on equity of 24.88% and a net margin of 4.29%. On average, equities analysts expect that Loblaw Companies Limited will post 9.1225541 earnings per share for the current year.

Loblaw Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.1552 per share. This represents a $0.62 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, June 15th. This is a positive change from Loblaw Companies’s previous quarterly dividend of $0.14. Loblaw Companies’s dividend payout ratio (DPR) is presently 24.53%.

Insider Buying and Selling at Loblaw Companies

In related news, Director Nicholas Henn sold 10,000 shares of the business’s stock in a transaction 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. Also, insider Melanie Singh sold 4,820 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of C$66.72, for a total value of C$321,590.40. 53.77% of the stock is 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.