Canadian Imperial Bank of Commerce Analysts Give Loblaw Companies (TSE:L) a C$81.00 Price Target

Canadian Imperial Bank of Commerce set a C$81.00 target price on Loblaw Companies (TSE:L) in a report published on Thursday morning, MarketBeat reports. The brokerage currently has an outperformer rating on the stock.

L has been the subject of a number of other reports. TD Securities upgraded shares of Loblaw Companies to a “strong-buy” rating in a research report on Wednesday, July 29th. National Bank Financial increased their price objective on Loblaw Companies from C$70.00 to C$72.00 and gave the stock an “outperform” rating in a research report on Wednesday. Desjardins boosted their target price on Loblaw Companies from C$70.00 to C$72.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. TD set a C$75.00 target price on Loblaw Companies and gave the stock a “buy” rating in a research note on Thursday, September 10th. Finally, BMO Capital Markets upped their target price on Loblaw Companies from C$70.00 to C$73.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Loblaw Companies currently has an average rating of “Moderate Buy” and an average price target of C$73.00.

Loblaw Companies Price Performance

Shares of TSE:L opened at C$68.67 on Thursday. The company has a 50 day moving average of C$63.11 and a 200 day moving average of C$63.21. The stock has a market cap of C$79.36 billion, a P/E ratio of 29.10, a P/E/G ratio of 3.23 and a beta of 0.02. Loblaw Companies has a 12 month low of C$54.44 and a 12 month high of C$71.06. The company has a current ratio of 1.06, a quick ratio of 0.68 and a debt-to-equity ratio of 151.15.

Loblaw Companies (TSE:L) last posted its earnings results on Thursday, July 30th. The company reported C$0.66 earnings per share for the quarter. Loblaw Companies had a net margin of 4.32% and a return on equity of 25.25%. The business had revenue of C$15.05 billion for the quarter. As a group, sell-side analysts forecast that Loblaw Companies will post 9.12 EPS for the current fiscal year.

Loblaw Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, October 1st were paid a $0.1552 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 15th. Loblaw Companies’s payout ratio is currently 24.51%.

Insider Transactions at Loblaw Companies

In other news, insider Mark William Henry Wilson sold 24,496 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of C$62.68, for a total value of C$1,535,409.28. Also, insider Per Bank sold 203,623 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of C$62.01, for a total transaction of C$12,626,662.23. Insiders have sold 324,121 shares of company stock valued at $20,118,530 in the last quarter. Insiders own 53.77% of the company’s stock.

About Loblaw Companies

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.