Loblaw Companies Limited (TSE:L) Given Average Recommendation of “Moderate Buy” by Analysts

Loblaw Companies Limited (TSE:L) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is C$113.50.

A number of equities research analysts recently weighed in on the stock. Desjardins raised shares of Loblaw Companies from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$62.00 to C$67.00 in a research report on Thursday, December 4th. CIBC lifted their target price on Loblaw Companies from C$58.50 to C$67.00 in a research note on Thursday, November 13th. National Bankshares increased their price target on Loblaw Companies from C$60.00 to C$61.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. BMO Capital Markets raised their price target on Loblaw Companies from C$57.50 to C$63.00 in a report on Thursday, November 13th. Finally, TD Securities upped their price objective on Loblaw Companies from C$63.00 to C$65.00 in a research note on Thursday, November 13th.

Loblaw Companies Stock Up 0.0%

L stock opened at C$61.89 on Tuesday. The firm has a market cap of C$73.10 billion, a price-to-earnings ratio of 30.23, a PEG ratio of 3.23 and a beta of 0.28. Loblaw Companies has a 1-year low of C$43.32 and a 1-year high of C$63.43. The firm has a fifty day moving average price of C$59.72 and a two-hundred day moving average price of C$118.63. The company has a debt-to-equity ratio of 166.11, a current ratio of 1.29 and a quick ratio of 0.68.

Loblaw Companies Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 30th will be given a dividend of $0.1411 per share. The ex-dividend date is Monday, December 15th. This represents a $0.56 annualized dividend and a dividend yield of 0.9%. Loblaw Companies’s dividend payout ratio is currently 26.31%.

Insider Buying and Selling at Loblaw Companies

In related news, insider Kieran Barry Columb sold 40,800 shares of Loblaw Companies stock in a transaction dated Friday, November 14th. The shares were sold at an average price of C$59.50, for a total value of C$2,427,600.00. Following the sale, the insider directly owned 163,696 shares in the company, valued at C$9,739,912. This trade represents a 19.95% decrease in their position. Over the last 90 days, insiders have sold 102,044 shares of company stock valued at $6,092,002. 53.77% of the stock is owned by company insiders.

About Loblaw Companies

Loblaw is one of Canada’s largest grocery, pharmacy, and general merchandise retailers, operating the most expansive store footprint in Ontario and maintaining sizable presences in provinces like Quebec and British Columbia. Key grocery banners include Loblaw, No Frills, and Maxi, while its pharmaceutical operations are the product of its 2014 acquisition of Shoppers Drug Mart. The firm carries a robust private-label assortment, with top sellers like President’s Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.