Loblaw Companies (TSE:L) Hits New 1-Year High – Here’s Why

Loblaw Companies Limited (TSE:L) shares hit a new 52-week high on Tuesday . The company traded as high as C$196.20 and last traded at C$195.60, with a volume of 207042 shares changing hands. The stock had previously closed at C$192.73.

Analyst Upgrades and Downgrades

L has been the subject of several research analyst reports. TD Securities cut their price objective on Loblaw Companies from C$202.00 to C$195.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Scotiabank cut Loblaw Companies from an “outperform” rating to a “sector perform” rating and set a C$200.00 price objective for the company. in a report on Wednesday, January 8th. Royal Bank of Canada raised their price target on Loblaw Companies from C$205.00 to C$217.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. CIBC boosted their price objective on shares of Loblaw Companies from C$206.00 to C$208.00 in a research report on Friday, February 21st. Finally, UBS Group dropped their target price on shares of Loblaw Companies from C$225.00 to C$210.00 in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$199.38.

Loblaw Companies Stock Up 0.6 %

The company has a current ratio of 1.29, a quick ratio of 0.68 and a debt-to-equity ratio of 166.11. The firm has a 50-day moving average of C$184.33 and a 200 day moving average of C$182.76. The stock has a market capitalization of C$59.42 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17.

Loblaw Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st will be paid a dividend of $0.513 per share. This represents a $2.05 annualized dividend and a yield of 1.04%. The ex-dividend date is Friday, March 14th. Loblaw Companies’s dividend payout ratio (DPR) is 27.83%.

Insider Buying and Selling at Loblaw Companies

In related news, Director Richard Dufresne sold 25,783 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of C$186.55, for a total transaction of C$4,809,847.01. Also, Senior Officer Kieran Barry Columb sold 11,309 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of C$186.55, for a total value of C$2,109,706.39. Insiders sold a total of 141,456 shares of company stock valued at $25,966,244 in the last ninety days. Insiders own 53.77% of the company’s stock.

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.