Loblaw Companies (TSE:L) Price Target Raised to C$172.00 at TD Securities

Loblaw Companies (TSE:L) had its target price raised by TD Securities from C$168.00 to C$172.00 in a report issued on Friday, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other analysts also recently issued reports on the company. Scotiabank raised their price target on Loblaw Companies from C$148.27 to C$161.00 and gave the stock a sector perform rating in a report on Thursday. National Bankshares increased their target price on shares of Loblaw Companies from C$156.00 to C$159.00 and gave the company an outperform rating in a research note on Thursday. Desjardins boosted their price objective on Loblaw Companies from C$148.00 to C$157.00 and gave the stock a hold rating in a report on Monday, April 29th. Royal Bank of Canada increased their target price on Loblaw Companies from C$170.00 to C$172.00 and gave the company an outperform rating in a report on Wednesday, January 24th. Finally, CIBC boosted their price objective on shares of Loblaw Companies from C$159.00 to C$171.00 and gave the company an outperform rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of C$162.43.

Loblaw Companies Price Performance

L stock opened at C$153.93 on Friday. The company has a market capitalization of C$47.32 billion, a PE ratio of 22.97, a P/E/G ratio of 2.53 and a beta of 0.12. The company has a quick ratio of 0.68, a current ratio of 1.25 and a debt-to-equity ratio of 156.41. The stock’s 50 day moving average is C$149.47 and its two-hundred day moving average is C$134.28. Loblaw Companies has a 52-week low of C$110.52 and a 52-week high of C$155.22.

Loblaw Companies (TSE:L) last announced its quarterly earnings data on Thursday, February 22nd. The company reported C$2.00 earnings per share for the quarter, beating the consensus estimate of C$1.92 by C$0.08. The firm had revenue of C$14.53 billion during the quarter, compared to analyst estimates of C$14.58 billion. Loblaw Companies had a return on equity of 18.96% and a net margin of 3.53%. Analysts predict that Loblaw Companies will post 8.5138274 earnings per share for the current fiscal year.

Loblaw Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Saturday, June 15th will be given a $0.513 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.33%. This is a boost from Loblaw Companies’s previous quarterly dividend of $0.45. Loblaw Companies’s payout ratio is currently 30.60%.

Insider Activity at Loblaw Companies

In related news, Director Willard Galen Garfield Weston sold 13,354 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of C$145.84, for a total transaction of C$1,947,558.04. In other news, Director Willard Galen Garfield Weston sold 13,354 shares of Loblaw Companies stock in a transaction dated Monday, March 4th. The stock was sold at an average price of C$145.84, for a total value of C$1,947,558.04. Also, Senior Officer Robert Wayne Wiebe sold 16,583 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of C$150.00, for a total value of C$2,487,450.00. In the last ninety days, insiders have sold 71,495 shares of company stock valued at $10,547,163. Corporate 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.