Loblaw Companies (TSE:L) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

Loblaw Companies Limited (TSE:L) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$179.33 and traded as low as C$177.34. Loblaw Companies shares last traded at C$178.15, with a volume of 570,863 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. 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 lifted their price target on Loblaw Companies from C$205.00 to C$217.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. UBS Group set a C$225.00 price objective on shares of Loblaw Companies and gave the company a “buy” rating in a research note on Friday, December 13th. Desjardins lifted their target price on shares of Loblaw Companies from C$172.00 to C$190.00 in a research report on Thursday, November 14th. Finally, CIBC upped their price target on shares of Loblaw Companies from C$189.00 to C$206.00 in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$201.88.

Loblaw Companies Stock Down 0.2 %

The stock has a market cap of C$54.41 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 3.23 and a beta of 0.17. The company has a current ratio of 1.36, a quick ratio of 0.68 and a debt-to-equity ratio of 163.32. The firm’s 50 day moving average is C$186.73 and its two-hundred day moving average is C$179.33.

Loblaw Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 30th were paid a dividend of $0.513 per share. This represents a $2.05 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Friday, December 13th. Loblaw Companies’s payout ratio is 31.06%.

Insider Buying and Selling

In other Loblaw Companies news, Director Christie James Beckett Clark sold 2,105 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of C$189.69, for a total value of C$399,297.45. 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.