Melanie Singh Sells 4,820 Shares of Loblaw Companies (TSE:L) Stock

Loblaw Companies Limited (TSE:L) insider Melanie Singh sold 4,820 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of C$66.72, for a total transaction of C$321,590.40.

Loblaw Companies Stock Performance

Shares of Loblaw Companies stock opened at C$64.59 on Tuesday. The firm has a market cap of C$75.18 billion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 3.23 and a beta of 0.15. The firm’s 50-day simple moving average is C$62.41 and its 200-day simple moving average is C$62.93. The company has a debt-to-equity ratio of 153.41, a quick ratio of 0.68 and a current ratio of 1.09. Loblaw Companies Limited has a 1 year low of C$52.92 and a 1 year high of C$69.59.

Loblaw Companies (TSE:L) last issued its earnings results on Wednesday, May 6th. The company reported C$0.52 earnings per share (EPS) for the quarter. The business had revenue of C$14.48 billion for the quarter. Loblaw Companies had a net margin of 4.29% and a return on equity of 24.88%. Equities analysts forecast that Loblaw Companies Limited will post 9.1225541 earnings per share for the current fiscal year.

Loblaw Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, July 1st will be paid a $0.1552 dividend. This is a boost from Loblaw Companies’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, June 15th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.0%. Loblaw Companies’s dividend payout ratio (DPR) is currently 24.53%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on L. Canadian Imperial Bank of Commerce cut their target price on shares of Loblaw Companies from C$75.00 to C$69.00 in a research note on Thursday, May 7th. Scotia cut their target price on shares of Loblaw Companies from C$70.00 to C$64.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 7th. Desjardins upped their target price on shares of Loblaw Companies from C$67.00 to C$70.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Scotiabank lowered shares of Loblaw Companies from an “outperform” rating to a “hold” rating and set a C$70.00 price objective on the stock. in a research note on Thursday, April 9th. Finally, TD Securities increased their price objective on shares of Loblaw Companies from C$65.00 to C$75.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$69.25.

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.