CIBC Increases Loblaw Companies (TSE:L) Price Target to C$189.00

Loblaw Companies (TSE:L) had its price target boosted by CIBC from C$171.00 to C$189.00 in a research report sent to investors on Friday, BayStreet.CA reports.

A number of other equities research analysts also recently commented on the company. National Bankshares upped their price objective on Loblaw Companies from C$159.00 to C$175.00 and gave the company an outperform rating in a report on Friday. TD Securities upped their price objective on Loblaw Companies from C$172.00 to C$186.00 and gave the company a buy rating in a report on Monday, July 22nd. Scotiabank upped their price objective on Loblaw Companies from C$148.27 to C$161.00 and gave the company a sector perform rating in a report on Thursday, May 2nd. BMO Capital Markets upped their price objective on Loblaw Companies from C$160.00 to C$180.00 in a report on Friday. Finally, Desjardins upped their price objective on Loblaw Companies from C$157.00 to C$172.00 and gave the company a hold rating in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of C$176.43.

Loblaw Companies Trading Up 0.3 %

L stock opened at C$168.73 on Friday. The company has a market cap of C$51.87 billion, a P/E ratio of 25.53, a PEG ratio of 2.53 and a beta of 0.12. Loblaw Companies has a twelve month low of C$110.52 and a twelve month high of C$171.99. The company has a quick ratio of 0.68, a current ratio of 1.25 and a debt-to-equity ratio of 156.41. The business has a fifty day moving average of C$160.68 and a 200-day moving average of C$150.63.

Loblaw Companies (TSE:L) last released its earnings results on Wednesday, May 1st. The company reported C$1.72 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.70 by C$0.02. The company had revenue of C$13.58 billion during the quarter, compared to the consensus estimate of C$13.29 billion. Loblaw Companies had a return on equity of 18.96% and a net margin of 3.53%. As a group, equities research analysts expect that Loblaw Companies will post 8.3923706 EPS for the current year.

Loblaw Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Sunday, September 15th will be paid a $0.513 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.05 dividend on an annualized basis and a yield of 1.22%. Loblaw Companies’s payout ratio is 31.01%.

Insider Buying and Selling at Loblaw Companies

In other news, Senior Officer Kieran Barry Columb sold 5,500 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of C$162.00, for a total transaction of C$891,000.00. In other news, Senior Officer Kieran Barry Columb sold 5,500 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of C$162.00, for a total transaction of C$891,000.00. Also, Senior Officer Frank Gambioli sold 14,840 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of C$157.00, for a total value of C$2,329,880.00. Over the last ninety days, insiders sold 83,929 shares of company stock valued at $13,160,644. Company insiders own 53.29% of the company’s stock.

About Loblaw Companies

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy and healthcare services, health and beauty products, apparels, general merchandise, financial services, and wireless mobile products and services in Canada. It operates in two segments, Retail and Financial Services. The Retail segment operates corporate and franchise-owned retail food, and associate-owned drug stores.