Loblaw Companies (TSE:L) Stock Passes Above Two Hundred Day Moving Average of $115.09

Loblaw Companies Limited (TSE:LGet Rating) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$115.09 and traded as high as C$116.94. Loblaw Companies shares last traded at C$114.68, with a volume of 363,834 shares traded.

Wall Street Analyst Weigh In

L has been the topic of several analyst reports. Royal Bank of Canada upped their target price on shares of Loblaw Companies from C$133.00 to C$154.00 and gave the stock an “outperform” rating in a report on Thursday, July 28th. TD Securities increased their price objective on shares of Loblaw Companies from C$125.00 to C$130.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Scotiabank increased their price objective on shares of Loblaw Companies from C$116.00 to C$118.00 in a report on Thursday, July 28th. BMO Capital Markets increased their price objective on shares of Loblaw Companies from C$118.00 to C$123.00 in a report on Thursday, July 28th. Finally, Desjardins increased their price objective on shares of Loblaw Companies from C$116.00 to C$124.00 in a report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$123.78.

Loblaw Companies Stock Down 1.3 %

The company has a debt-to-equity ratio of 147.69, a quick ratio of 0.71 and a current ratio of 1.35. The stock has a market capitalization of C$37.58 billion and a price-to-earnings ratio of 19.37. The firm’s fifty day simple moving average is C$118.38 and its 200 day simple moving average is C$115.09.

Loblaw Companies (TSE:LGet Rating) last announced its earnings results on Wednesday, July 27th. The company reported C$1.69 EPS for the quarter, topping the consensus estimate of C$1.62 by C$0.07. The company had revenue of C$12.85 billion for the quarter, compared to analyst estimates of C$12.95 billion. On average, sell-side analysts forecast that Loblaw Companies Limited will post 7.2126788 earnings per share for the current year.

Loblaw Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.405 per share. The ex-dividend date is Wednesday, September 14th. This represents a $1.62 annualized dividend and a yield of 1.41%. Loblaw Companies’s dividend payout ratio (DPR) is currently 25.34%.

Insider Transactions at Loblaw Companies

In other news, Senior Officer Kieran Barry Columb sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of C$120.00, for a total transaction of C$840,000.00. Following the completion of the transaction, the insider now directly owns 32,021 shares of the company’s stock, valued at approximately C$3,842,520. In related news, Director Richard Dufresne sold 15,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of C$116.43, for a total value of C$1,746,505.50. Following the completion of the transaction, the director now directly owns 5,884 shares of the company’s stock, valued at C$685,095.89. Also, Senior Officer Kieran Barry Columb sold 7,000 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of C$120.00, for a total transaction of C$840,000.00. Following the completion of the transaction, the insider now directly owns 32,021 shares of the company’s stock, valued at C$3,842,520. Insiders sold 44,958 shares of company stock valued at $5,325,901 in the last ninety days.

About Loblaw Companies

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Loblaw Companies Limited, a food and pharmacy company, engages in the grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products and services businesses in Canada. It operates in two segments, Retail and Financial Services. The Retail segment operates corporate and franchise-owned retail food, and associate-owned drug stores.

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