Loblaw Companies (TSE:L) Stock Price Crosses Above 200-Day Moving Average After Insider Selling

Loblaw Companies Limited (TSE:L)’s stock price crossed above its 200-day moving average during trading on Monday following insider buying activity. The stock has a 200-day moving average of C$192.69 and traded as high as C$219.86. Loblaw Companies shares last traded at C$219.61, with a volume of 384,986 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Loblaw Companies from C$215.00 to C$234.00 in a report on Monday, April 14th. BMO Capital Markets boosted their price target on Loblaw Companies from C$200.00 to C$220.00 in a research note on Thursday, May 1st. CIBC lifted their target price on Loblaw Companies from C$208.00 to C$234.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Scotiabank raised their price target on shares of Loblaw Companies from C$215.00 to C$245.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Finally, Desjardins raised their price target on shares of Loblaw Companies from C$185.00 to C$230.00 and gave the stock a “hold” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Loblaw Companies currently has an average rating of “Moderate Buy” and an average price target of C$236.88.

Loblaw Companies Price Performance

The firm’s fifty day simple moving average is C$207.61 and its 200-day simple moving average is C$192.69. The firm has a market capitalization of C$66.40 billion, a PE ratio of 29.81, a PEG ratio of 3.23 and a beta of 0.17. The company has a quick ratio of 0.68, a current ratio of 1.29 and a debt-to-equity ratio of 166.11.

Loblaw Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st were issued a $0.513 dividend. This represents a $2.05 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Friday, March 14th. Loblaw Companies’s payout ratio is presently 27.83%.

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.