Loblaw Companies (TSE:L) Price Target Raised to C$72.00

Loblaw Companies (TSE:L) had its target price increased by Royal Bank Of Canada from C$68.00 to C$72.00 in a research report report published on Friday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

L has been the topic of several other research reports. CIBC raised their price target on shares of Loblaw Companies from C$58.50 to C$67.00 in a research report on Thursday, November 13th. TD Securities increased their target price on shares of Loblaw Companies from C$63.00 to C$65.00 in a research note on Thursday, November 13th. BMO Capital Markets lifted their price target on Loblaw Companies from C$57.50 to C$63.00 in a research note on Thursday, November 13th. Desjardins raised Loblaw Companies from a “hold” rating to a “buy” rating and upped their price target for the stock from C$62.00 to C$67.00 in a report on Thursday, December 4th. Finally, National Bankshares raised their price objective on Loblaw Companies from C$60.00 to C$61.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$89.13.

Loblaw Companies Trading Up 0.9%

Shares of TSE:L opened at C$62.96 on Friday. Loblaw Companies has a 12-month low of C$43.32 and a 12-month high of C$63.43. The company has a market capitalization of C$74.37 billion, a PE ratio of 30.75, a PEG ratio of 3.23 and a beta of 0.26. The business has a 50 day moving average of C$61.92 and a two-hundred day moving average of C$91.33. The company has a current ratio of 1.29, a quick ratio of 0.68 and a debt-to-equity ratio of 166.11.

Loblaw Companies Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Tuesday, December 30th were paid a $0.1411 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.9%. Loblaw Companies’s payout ratio is 26.31%.

Insider Activity at Loblaw Companies

In other news, insider Kieran Barry Columb sold 40,800 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of C$59.50, for a total transaction of C$2,427,600.00. Following the transaction, the insider directly owned 163,696 shares of the company’s stock, valued at C$9,739,912. This represents a 19.95% decrease in their position. In the last 90 days, insiders have sold 102,044 shares of company stock worth $6,092,002. 53.77% of the stock is currently owned by 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. The firm carries a robust private-label assortment, with top sellers like President’s Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.