Insider Selling: Loblaw Companies (TSE:L) Insider Sells C$3,490,816.80 in Stock

Loblaw Companies Limited (TSE:L) insider David Markwell sold 56,240 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of C$62.07, for a total value of C$3,490,816.80.

Loblaw Companies Price Performance

TSE:L opened at C$61.90 on Thursday. Loblaw Companies Limited has a one year low of C$52.92 and a one year high of C$69.59. The stock has a market cap of C$71.53 billion, a PE ratio of 26.23, a P/E/G ratio of 3.23 and a beta of 0.06. The company has a debt-to-equity ratio of 151.15, a quick ratio of 0.68 and a current ratio of 1.06. The stock has a 50 day moving average price of C$62.90 and a 200 day moving average price of C$62.95.

Loblaw Companies (TSE:L) last released its quarterly earnings data on Thursday, July 30th. The company reported C$0.66 earnings per share for the quarter. Loblaw Companies had a return on equity of 25.25% and a net margin of 4.32%.The company had revenue of C$15.05 billion for the quarter. Equities research analysts expect that Loblaw Companies Limited will post 9.1225541 EPS for the current fiscal year.

Loblaw Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, October 1st will be given a dividend of $0.1552 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.62 annualized dividend and a dividend yield of 1.0%. Loblaw Companies’s payout ratio is presently 24.51%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on L. National Bank Financial set a C$70.00 price objective on shares of Loblaw Companies and gave the stock an “outperform” rating in a research report on Thursday, September 10th. Desjardins boosted their target price on shares of Loblaw Companies from C$70.00 to C$72.00 and gave the company a “buy” rating in a report on Friday, July 31st. TD Securities raised shares of Loblaw Companies to a “strong-buy” rating in a research note on Wednesday, July 29th. TD set a C$75.00 price target on shares of Loblaw Companies and gave the stock a “buy” rating in a report on Thursday, September 10th. Finally, BMO Capital Markets lifted their price target on shares of Loblaw Companies from C$70.00 to C$73.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$71.44.

Loblaw Companies Company Profile

Loblaw is Canada’s food and pharmacy leader, and the nation’s largest retailer. Loblaw provides Canadians with grocery, pharmacy, health and beauty, apparel, general merchandise, financial services and wireless mobile products and services. With more than 2,800 corporate franchised and Associate-owned locations, Loblaw, its franchisees and Associate-owners employ more than 220,000 full- and part-time employees, making it one of Canada’s largest private sector employers. Loblaw’s purpose – Live Life Well® – puts first the needs and well-being of Canadians who make one billion transactions annually in the company’s stores.