Loblaw Companies (TSE:L) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Loblaw Companies Limited (TSE:L)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$182.14 and traded as high as C$190.41. Loblaw Companies shares last traded at C$190.03, with a volume of 506,661 shares trading hands.

Analysts Set New Price Targets

L has been the topic of a number of research analyst reports. Royal Bank of Canada lifted their target price on Loblaw Companies from C$205.00 to C$217.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Scotiabank lowered Loblaw Companies from an “outperform” rating to a “sector perform” rating and set a C$200.00 target price on the stock. in a research report on Wednesday, January 8th. UBS Group dropped their target price on Loblaw Companies from C$225.00 to C$210.00 in a research report on Friday, February 21st. TD Securities decreased their price target on Loblaw Companies from C$202.00 to C$195.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Finally, CIBC lifted their target price on Loblaw Companies from C$206.00 to C$208.00 in a research note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Loblaw Companies has an average rating of “Moderate Buy” and a consensus price target of C$199.38.

Loblaw Companies Price Performance

The stock has a market capitalization of C$57.46 billion, a P/E ratio of 25.79, a PEG ratio of 3.23 and a beta of 0.17. The company has a debt-to-equity ratio of 166.11, a current ratio of 1.29 and a quick ratio of 0.68. The stock’s fifty day moving average is C$183.06 and its 200-day moving average is C$182.14.

Loblaw Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.513 per share. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Friday, March 14th. Loblaw Companies’s dividend payout ratio is currently 27.83%.

Insider Activity

In other Loblaw Companies news, Director Willard Galen Garfield Weston sold 104,364 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of C$182.50, for a total transaction of C$19,046,690.91. Also, Director Richard Dufresne sold 25,783 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of C$186.55, for a total transaction of C$4,809,847.01. Over the last 90 days, insiders sold 141,456 shares of company stock valued at $25,966,244. Insiders own 53.77% of the company’s stock.

About Loblaw Companies

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.