Loblaw Companies (TSE:L) Price Target Raised to C$66.00

Loblaw Companies (TSE:L) had its price objective lifted by National Bankshares from C$62.00 to C$66.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. They currently have an outperform rating on the stock.

Other research analysts have also issued reports about the stock. Royal Bank Of Canada raised their price objective on shares of Loblaw Companies from C$68.00 to C$72.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. TD Securities upped their target price on shares of Loblaw Companies from C$63.00 to C$65.00 in a report on Thursday, November 13th. CIBC raised their price target on shares of Loblaw Companies from C$58.50 to C$67.00 in a research report on Thursday, November 13th. BMO Capital Markets lifted their price target on Loblaw Companies from C$57.50 to C$63.00 in a research note on Thursday, November 13th. Finally, Desjardins raised Loblaw Companies from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$62.00 to C$67.00 in a report on Thursday, December 4th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$89.75.

Loblaw Companies Stock Down 1.1%

Shares of TSE:L opened at C$61.27 on Wednesday. The company has a debt-to-equity ratio of 166.11, a quick ratio of 0.68 and a current ratio of 1.29. Loblaw Companies has a 52-week low of C$43.32 and a 52-week high of C$63.44. The business’s 50 day simple moving average is C$61.92 and its two-hundred day simple moving average is C$87.56. The firm has a market cap of C$72.37 billion, a P/E ratio of 29.92, a PEG ratio of 3.23 and a beta of 0.26.

Loblaw Companies Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 30th were given a dividend of $0.1411 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.56 annualized dividend and a dividend yield of 0.9%. Loblaw Companies’s dividend payout ratio (DPR) is currently 26.31%.

Insider Buying and Selling

In other Loblaw Companies news, insider Kieran Barry Columb sold 40,800 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately C$9,739,912. The trade was a 19.95% decrease in their ownership of the stock. Insiders sold 102,044 shares of company stock worth $6,092,002 in the last 90 days. Company insiders own 53.77% of the company’s stock.

Loblaw Companies Company Profile

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.