Shares of Loblaw Companies Ltd (TSE:L) have received an average rating of “Buy” from the ten brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$77.90.
Several research analysts recently commented on the stock. Desjardins upgraded shares of Loblaw Companies from a “hold” rating to a “buy” rating and lifted their target price for the stock from C$76.00 to C$77.00 in a report on Friday, February 23rd. Raymond James Financial lifted their target price on shares of Loblaw Companies from C$80.00 to C$85.00 and gave the stock an “outperform” rating in a report on Thursday, November 16th. Scotiabank dropped their target price on shares of Loblaw Companies from C$76.00 to C$73.00 and set a “sector perform” rating on the stock in a report on Friday, February 23rd. CIBC dropped their target price on shares of Loblaw Companies from C$83.00 to C$79.00 in a report on Friday, February 23rd. Finally, Eight Capital lifted their target price on shares of Loblaw Companies from C$73.00 to C$75.00 in a report on Thursday, November 16th.
In other Loblaw Companies news, insider Garry Senecal sold 23,298 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of C$64.76, for a total value of C$1,508,778.48.
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Sunday, April 1st will be given a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.08 annualized dividend and a yield of 1.66%. Loblaw Companies’s dividend payout ratio is 28.31%.
Loblaw Companies Company Profile
Loblaw Companies Limited is a Canada-based holding company. The Company operates through three segments: Retail, Financial Services and Choice Properties. The Company’s Retail segment consists of corporate and franchise-owned retail food and Associate-owned drug stores, and includes in-store pharmacies and other health and beauty products, gas bars, apparel and other general merchandise.
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