Loblaw Companies (TSE:L) Sets New 1-Year High at $177.02

Loblaw Companies Limited (TSE:L)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$177.02 and last traded at C$176.95, with a volume of 42078 shares. The stock had previously closed at C$176.06.

Analyst Ratings Changes

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

Loblaw Companies Trading Up 0.5 %

The company has a market cap of C$53.92 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 2.53 and a beta of 0.17. The company’s 50 day moving average price is C$169.70 and its 200 day moving average price is C$158.89. The company has a debt-to-equity ratio of 163.32, a quick ratio of 0.68 and a current ratio of 1.36.

Loblaw Companies (TSE:L) last released its quarterly earnings results on Thursday, July 25th. The company reported C$2.15 EPS for the quarter, beating analysts’ consensus estimates of C$2.14 by C$0.01. The company had revenue of C$13.95 billion for the quarter, compared to analyst estimates of C$14.07 billion. Loblaw Companies had a net margin of 3.46% and a return on equity of 19.22%. Research analysts anticipate that Loblaw Companies Limited will post 9.4554243 EPS for the current year.

Loblaw Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, October 1st will be given a $0.513 dividend. This represents a $2.05 annualized dividend and a yield of 1.16%. The ex-dividend date is Friday, September 13th. Loblaw Companies’s dividend payout ratio is currently 31.06%.

Insider Activity

In other news, Senior Officer Kieran Barry Columb sold 32,500 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of C$156.01, for a total transaction of C$5,070,380.25. In other news, Senior Officer Kieran Barry Columb sold 32,500 shares of Loblaw Companies stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of C$156.01, for a total transaction of C$5,070,380.25. Also, Senior Officer Nicholas Henn sold 164 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of C$165.15, for a total value of C$27,084.39. Over the last three months, insiders sold 32,960 shares of company stock valued at $5,146,349. 53.53% of the stock is owned by company insiders.

Loblaw Companies Company Profile

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.