Loblaw Companies (TSE:L) Sets New 1-Year High After Analyst Upgrade

Loblaw Companies Limited (TSE:L) hit a new 52-week high on Tuesday after Royal Bank of Canada raised their price target on the stock from C$205.00 to C$217.00. Royal Bank of Canada currently has an outperform rating on the stock. Loblaw Companies traded as high as C$194.21 and last traded at C$193.85, with a volume of 40704 shares trading hands. The stock had previously closed at C$192.63.

Other equities research analysts have also issued research reports about the company. National Bankshares lifted their price objective on Loblaw Companies from C$188.00 to C$195.00 in a research note on Thursday, November 14th. Desjardins lifted their price objective on Loblaw Companies from C$172.00 to C$190.00 in a research note on Thursday, November 14th. CIBC lifted their price objective on Loblaw Companies from C$189.00 to C$206.00 in a research note on Thursday, November 14th. Finally, TD Securities dropped their price objective on Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$193.00.

Loblaw Companies Stock Performance

The company has a market cap of C$58.93 billion, a PE ratio of 29.06, 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 business has a fifty day moving average of C$179.87 and a 200-day moving average of C$171.54.

Loblaw Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Sunday, December 15th will be issued a dividend of $0.513 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.06%. Loblaw Companies’s dividend payout ratio (DPR) is 31.06%.

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.