Loblaw Companies Limited to Issue Quarterly Dividend of $0.51 (TSE:L)

Loblaw Companies Limited (TSE:L) announced a quarterly dividend on Friday, September 13th, Zacks reports. Shareholders of record on Tuesday, October 1st will be given a dividend of 0.513 per share on Tuesday, October 1st. This represents a $2.05 annualized dividend and a yield of 1.17%. The ex-dividend date is Friday, September 13th.

Loblaw Companies Trading Down 0.2 %

Shares of TSE L opened at C$175.72 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 1.36 and a debt-to-equity ratio of 163.32. Loblaw Companies has a twelve month low of C$110.52 and a twelve month high of C$177.71. The company’s fifty day moving average is C$169.40 and its 200-day moving average is C$158.77. The stock has a market cap of C$53.66 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 2.53 and a beta of 0.17.

Loblaw Companies (TSE:L) last posted its earnings results on Thursday, July 25th. The company reported C$2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.14 by C$0.01. The firm had revenue of C$13.95 billion during the quarter, compared to analysts’ expectations of C$14.07 billion. Loblaw Companies had a return on equity of 19.22% and a net margin of 3.46%. Equities research analysts predict that Loblaw Companies will post 9.4554243 EPS for the current year.

Insider Activity at Loblaw Companies

In other news, Director Willard Galen Garfield Weston sold 296 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of C$165.15, for a total transaction of C$48,884.02. In related news, Director Willard Galen Garfield Weston sold 296 shares of Loblaw Companies stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of C$165.15, for a total transaction of C$48,884.02. Also, Senior Officer Nicholas Henn sold 164 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of C$165.15, for a total value of C$27,084.39. Over the last quarter, insiders have sold 32,960 shares of company stock valued at $5,146,349. 53.53% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on L. National Bankshares raised their target price on shares of Loblaw Companies from C$159.00 to C$175.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. BMO Capital Markets boosted their price objective on shares of Loblaw Companies from C$160.00 to C$180.00 in a research report on Friday, July 26th. Desjardins upped their target price on shares of Loblaw Companies from C$157.00 to C$172.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. TD Securities lifted their price target on Loblaw Companies from C$172.00 to C$186.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, CIBC upped their price objective on Loblaw Companies from C$171.00 to C$189.00 in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Loblaw Companies has a consensus rating of “Moderate Buy” and a consensus price target of C$176.43.

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.