CIBC Increases Loblaw Companies (TSE:L) Price Target to C$171.00

Loblaw Companies (TSE:L) had its price objective lifted by CIBC from C$159.00 to C$171.00 in a research note issued to investors on Thursday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Other analysts have also issued reports about the company. Royal Bank of Canada boosted their price objective on Loblaw Companies from C$170.00 to C$172.00 and gave the stock an outperform rating in a report on Wednesday, January 24th. TD Securities increased their price target on Loblaw Companies from C$150.00 to C$160.00 and gave the company a buy rating in a research report on Friday, February 23rd. National Bankshares raised their price objective on Loblaw Companies from C$156.00 to C$159.00 and gave the company an outperform rating in a research note on Thursday. BMO Capital Markets upped their target price on shares of Loblaw Companies from C$130.00 to C$145.00 in a research note on Friday, February 23rd. Finally, Desjardins increased their target price on shares of Loblaw Companies from C$148.00 to C$157.00 and gave the company a hold rating in a report on Monday, April 29th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of C$162.43.

Loblaw Companies Trading Down 0.4 %

Shares of Loblaw Companies stock opened at C$153.93 on Thursday. The stock has a market capitalization of C$47.32 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 2.53 and a beta of 0.12. Loblaw Companies has a 52 week low of C$110.52 and a 52 week high of C$155.22. The stock has a 50 day moving average price of C$149.47 and a two-hundred day moving average price of C$134.28. The company has a debt-to-equity ratio of 156.41, a quick ratio of 0.68 and a current ratio of 1.25.

Loblaw Companies (TSE:L) last posted its quarterly earnings results on Thursday, February 22nd. The company reported C$2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.92 by C$0.08. Loblaw Companies had a net margin of 3.53% and a return on equity of 18.96%. The business had revenue of C$14.53 billion during the quarter, compared to the consensus estimate of C$14.58 billion. As a group, equities analysts anticipate that Loblaw Companies will post 8.5138274 earnings per share for the current fiscal year.

Loblaw Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Saturday, June 15th will be given a dividend of $0.513 per share. The ex-dividend date of this dividend is Friday, June 14th. This is a positive change from Loblaw Companies’s previous quarterly dividend of $0.45. This represents a $2.05 annualized dividend and a dividend yield of 1.33%. Loblaw Companies’s dividend payout ratio (DPR) is currently 30.60%.

Insider Transactions at Loblaw Companies

In related news, Senior Officer Kieran Barry Columb sold 10,000 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of C$150.00, for a total transaction of C$1,500,000.00. In related news, Senior Officer Kieran Barry Columb sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of C$150.00, for a total value of C$1,500,000.00. Also, Senior Officer Robert Wayne Wiebe sold 16,583 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of C$150.00, for a total value of C$2,487,450.00. Insiders have sold 71,495 shares of company stock worth $10,547,163 in the last ninety days. Company insiders own 53.26% of the company’s stock.

About Loblaw Companies

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy and healthcare services, health and beauty products, apparels, general merchandise, financial services, and wireless mobile products and services in Canada. It operates in two segments, Retail and Financial Services. The Retail segment operates corporate and franchise-owned retail food, and associate-owned drug stores.