Loblaw Companies (TSE:L) Stock Crosses Above 200 Day Moving Average of $115.09

Shares of Loblaw Companies Limited (TSE:LGet Rating) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$115.09 and traded as high as C$116.94. Loblaw Companies shares last traded at C$114.68, with a volume of 363,834 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on L. Scotiabank boosted their price target on shares of Loblaw Companies from C$116.00 to C$118.00 in a research report on Thursday, July 28th. National Bankshares lifted their price objective on shares of Loblaw Companies from C$125.00 to C$127.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th. Desjardins lifted their price objective on shares of Loblaw Companies from C$116.00 to C$124.00 in a research note on Thursday, July 28th. BMO Capital Markets lifted their price objective on shares of Loblaw Companies from C$118.00 to C$123.00 in a research note on Thursday, July 28th. Finally, CIBC lifted their price objective on shares of Loblaw Companies from C$129.00 to C$136.00 in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Loblaw Companies has an average rating of “Moderate Buy” and an average price target of C$123.78.

Loblaw Companies Stock Down 1.3 %

The company has a quick ratio of 0.71, a current ratio of 1.35 and a debt-to-equity ratio of 147.69. The firm has a market cap of C$37.58 billion and a PE ratio of 19.37. The firm’s 50 day moving average is C$118.38 and its 200-day moving average is C$115.09.

Loblaw Companies (TSE:LGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The company reported C$1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.62 by C$0.07. The firm had revenue of C$12.85 billion for the quarter, compared to analysts’ expectations of C$12.95 billion. As a group, equities research analysts expect that Loblaw Companies Limited will post 7.2126788 earnings per share for the current fiscal year.

Loblaw Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Thursday, September 15th will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Wednesday, September 14th. Loblaw Companies’s payout ratio is currently 25.34%.

Insider Transactions at Loblaw Companies

In other news, Senior Officer Kieran Barry Columb sold 17,958 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of C$119.59, for a total value of C$2,147,645.71. Following the completion of the sale, the insider now owns 32,021 shares of the company’s stock, valued at C$3,829,477.85. In related news, Director Richard Dufresne sold 15,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of C$116.43, for a total transaction of C$1,746,505.50. Following the completion of the sale, the director now directly owns 5,884 shares of the company’s stock, valued at approximately C$685,095.89. Also, Senior Officer Kieran Barry Columb sold 17,958 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of C$119.59, for a total transaction of C$2,147,645.71. Following the sale, the insider now directly owns 32,021 shares of the company’s stock, valued at C$3,829,477.85. Insiders sold 44,958 shares of company stock valued at $5,325,901 over the last 90 days.

About Loblaw Companies

(Get Rating)

Loblaw Companies Limited, a food and pharmacy company, engages in the grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products and services businesses 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.

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