Loblaw Companies (TSE:L) Share Price Crosses Below 200-Day Moving Average – Time to Sell?

Loblaw Companies Limited (TSE:L)’s share price passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of C$62.91 and traded as low as C$62.58. Loblaw Companies shares last traded at C$63.93, with a volume of 1,529,795 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on L. Desjardins raised their target price on Loblaw Companies from C$70.00 to C$72.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Scotia upped their price target on Loblaw Companies from C$64.00 to C$67.00 and gave the company a “sector perform” rating in a research report on Friday, July 31st. National Bank Financial set a C$70.00 price target on Loblaw Companies and gave the stock an “outperform” rating in a research note on Thursday, September 10th. TD Securities raised Loblaw Companies to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, TD set a C$75.00 price target on shares of Loblaw Companies and gave the company a “buy” rating in a research report on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$71.44.

Loblaw Companies Stock Up 5.0%

The company has a debt-to-equity ratio of 151.15, a current ratio of 1.06 and a quick ratio of 0.68. The company has a market cap of C$79.74 billion, a PE ratio of 29.24, a price-to-earnings-growth ratio of 3.23 and a beta of 0.02. The company has a fifty day moving average price of C$62.27 and a 200 day moving average price of C$62.98.

Loblaw Companies (TSE:L) last announced its earnings results on Thursday, July 30th. The company reported C$0.66 earnings per share (EPS) for the quarter. The business had revenue of C$15.05 billion during the quarter. Loblaw Companies had a net margin of 4.32% and a return on equity of 25.25%. As a group, analysts anticipate that Loblaw Companies Limited will post 9.12 EPS for the current year.

Loblaw Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, October 1st were paid a $0.1552 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.9%. Loblaw Companies’s dividend payout ratio is 24.51%.

Insider Activity at Loblaw Companies

In related news, insider David Markwell sold 56,240 shares of Loblaw Companies stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of C$62.07, for a total value of C$3,490,816.80. Also, insider Per Bank sold 203,623 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of C$62.01, for a total transaction of C$12,626,662.23. In the last 90 days, insiders have sold 324,121 shares of company stock valued at $20,118,530. Insiders own 53.77% of the company’s stock.

About Loblaw Companies

Loblaw is Canada’s food and pharmacy leader, and the nation’s largest retailer. Loblaw provides Canadians with grocery, pharmacy, health and beauty, apparel, general merchandise, financial services and wireless mobile products and services. With more than 2,800 corporate franchised and Associate-owned locations, Loblaw, its franchisees and Associate-owners employ more than 220,000 full- and part-time employees, making it one of Canada’s largest private sector employers. Loblaw’s purpose – Live Life Well® – puts first the needs and well-being of Canadians who make one billion transactions annually in the company’s stores.