Loblaw Companies Limited (TSE:L) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Loblaw Companies Limited (TSE:L) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$113.50.

L has been the subject of a number of research analyst reports. Desjardins upgraded Loblaw Companies from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$62.00 to C$67.00 in a report on Thursday, December 4th. CIBC boosted their target price on shares of Loblaw Companies from C$58.50 to C$67.00 in a research report 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 increased their price objective on shares of Loblaw Companies from C$57.50 to C$63.00 in a research note on Thursday, November 13th. Finally, TD Securities increased their price target on shares of Loblaw Companies from C$63.00 to C$65.00 in a research report on Thursday, November 13th.

Loblaw Companies Stock Performance

Shares of L opened at C$62.58 on Friday. The company has a market cap of C$73.92 billion, a PE ratio of 30.56, a price-to-earnings-growth ratio of 3.23 and a beta of 0.26. The firm has a 50-day moving average of C$61.49 and a 200-day moving average of C$98.78. Loblaw Companies has a one year low of C$43.32 and a one year high of C$63.43. 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Tuesday, December 30th were given a dividend of $0.1411 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, December 15th. Loblaw Companies’s dividend payout ratio is currently 26.31%.

Insider Transactions at Loblaw Companies

In other Loblaw Companies news, insider Kieran Barry Columb sold 40,800 shares of Loblaw Companies stock in a transaction dated Friday, November 14th. The stock was sold at an average price of C$59.50, for a total value of C$2,427,600.00. Following the transaction, the insider owned 163,696 shares in the company, valued at C$9,739,912. The trade was a 19.95% decrease in their ownership of the stock. Insiders sold a total of 102,044 shares of company stock valued at $6,092,002 in the last quarter. Insiders own 53.77% of the company’s stock.

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.