Loblaw Companies (TSE:L) Price Target Raised to C$72.00 at Royal Bank Of Canada

Loblaw Companies (TSE:L) had its price target upped by Royal Bank Of Canada from C$68.00 to C$72.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also weighed in on the company. Desjardins upgraded Loblaw Companies from a “hold” rating to a “buy” rating and upped their target price for the stock from C$62.00 to C$67.00 in a report on Thursday, December 4th. National Bankshares raised their price objective on Loblaw Companies from C$60.00 to C$61.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. CIBC boosted their target price on shares of Loblaw Companies from C$58.50 to C$67.00 in a report on Thursday, November 13th. 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. Finally, BMO Capital Markets lifted their price objective on shares of Loblaw Companies from C$57.50 to C$63.00 in a research report on Thursday, November 13th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$89.13.

Loblaw Companies Trading Up 0.9%

TSE L opened at C$62.96 on Friday. 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 quick ratio of 0.68 and a current ratio of 1.29. The company has a market capitalization of C$74.37 billion, a price-to-earnings ratio of 30.75, a price-to-earnings-growth ratio of 3.23 and a beta of 0.26. The company’s 50-day simple moving average is C$61.92 and its two-hundred day simple moving average is C$93.20.

Loblaw Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Tuesday, December 30th were given a $0.1411 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, December 15th. Loblaw Companies’s dividend payout ratio (DPR) is presently 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 that occurred on Friday, November 14th. The shares were sold at an average price of C$59.50, for a total transaction of C$2,427,600.00. Following the sale, 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 position. In the last ninety days, insiders have sold 102,044 shares of company stock valued at $6,092,002. 53.77% of the stock is owned by company insiders.

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.