Loblaw Companies (TSE:L) Reaches New 12-Month High – Here’s Why

Loblaw Companies Limited (TSE:L) reached a new 52-week high during mid-day trading on Wednesday. The stock traded as high as C$71.07 and last traded at C$70.80, with a volume of 331,325 shares traded. The stock had previously closed at C$69.32.

Wall Street Analyst Weigh In

Several research analysts have commented on L shares. Canadian Imperial Bank of Commerce set a C$81.00 price objective on shares of Loblaw Companies and gave the company an “outperformer” rating in a research report on Thursday, October 22nd. Scotia raised their target price on Loblaw Companies from C$64.00 to C$67.00 and gave the company a “sector perform” rating in a report on Friday, July 31st. TD Securities raised Loblaw Companies to a “strong-buy” rating in a report on Wednesday, July 29th. Desjardins lifted their price target on Loblaw Companies from C$70.00 to C$72.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, National Bank Financial boosted their price target on Loblaw Companies from C$70.00 to C$72.00 and gave the stock an “outperform” rating in a report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$73.00.

Loblaw Companies Stock Performance

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 company has a market cap of C$81.08 billion, a price-to-earnings ratio of 29.73, a P/E/G ratio of 3.23 and a beta of 0.02. The company has a fifty day moving average of C$64.15 and a two-hundred day moving average of C$63.64.

Loblaw Companies Dividend Announcement

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

Insider Buying and Selling at Loblaw Companies

In other news, insider Per Bank sold 203,623 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of C$62.01, for a total transaction of C$12,626,662.23. Also, 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. Over the last three months, insiders sold 324,121 shares of company stock worth $20,118,530. 53.77% of the stock is currently owned by insiders.

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.