Loblaw Companies Limited (TSE:L) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Loblaw Companies Limited (TSE:L) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$89.75.

L has been the subject of a number of recent analyst reports. TD Securities upped their price target on shares of Loblaw Companies from C$63.00 to C$65.00 in a report on Thursday, November 13th. National Bankshares boosted their price objective on shares of Loblaw Companies from C$62.00 to C$66.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Desjardins raised Loblaw Companies from a “hold” rating to a “buy” rating and raised their target price for the company from C$62.00 to C$67.00 in a report on Thursday, December 4th. 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, Canadian Imperial Bank of Commerce boosted their price target on Loblaw Companies from C$58.50 to C$67.00 in a report on Thursday, November 13th.

Insider Buying and Selling at Loblaw Companies

In related news, insider Kieran Barry Columb sold 40,800 shares of Loblaw Companies 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 directly 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 90 days, insiders have sold 102,044 shares of company stock valued at $6,092,002. Company insiders own 53.77% of the company’s stock.

Loblaw Companies Stock Down 1.5%

Shares of TSE L opened at C$65.77 on Wednesday. The stock has a market capitalization of C$77.69 billion, a P/E ratio of 32.12, a PEG ratio of 3.23 and a beta of 0.30. The stock’s fifty day moving average is C$62.42 and its 200 day moving average is C$78.10. Loblaw Companies has a 52 week low of C$43.32 and a 52 week high of C$67.70. 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 Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 30th were issued a $0.1411 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.9%. Loblaw Companies’s dividend payout ratio is 26.31%.

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.