Analysts Set Loblaw Companies Limited (TSE:L) Price Target at C$236.88

Loblaw Companies Limited (TSE:L) has earned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is C$236.88.

Several equities analysts have recently issued reports on L shares. UBS Group boosted their price target on shares of Loblaw Companies from C$210.00 to C$253.00 in a report on Thursday, May 1st. TD Securities boosted their target price on shares of Loblaw Companies from C$195.00 to C$245.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. BMO Capital Markets upped their target price on shares of Loblaw Companies from C$200.00 to C$220.00 in a research report on Thursday, May 1st. CIBC raised their price target on shares of Loblaw Companies from C$208.00 to C$234.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Finally, Desjardins lifted their price target on Loblaw Companies from C$185.00 to C$230.00 and gave the company a “hold” rating in a report on Thursday, May 1st.

Insider Activity at Loblaw Companies

In related news, Senior Officer Frank Gambioli sold 1,304 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of C$213.87, for a total value of C$278,880.09. Also, Senior Officer Kieran Barry Columb sold 500 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of C$213.87, for a total transaction of C$106,932.55. Insiders sold 27,328 shares of company stock valued at $6,132,567 over the last ninety days. Company insiders own 53.77% of the company’s stock.

Loblaw Companies Stock Performance

Shares of L opened at C$222.86 on Tuesday. The business’s fifty day moving average price is C$223.35 and its 200 day moving average price is C$201.75. Loblaw Companies has a 12-month low of C$161.79 and a 12-month high of C$235.17. The stock has a market capitalization of C$67.38 billion, a PE ratio of 30.25, a price-to-earnings-growth 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.

Loblaw Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, July 1st were given a dividend of $0.5643 per share. This represents a $2.26 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, June 13th. This is an increase from Loblaw Companies’s previous quarterly dividend of $0.51. Loblaw Companies’s dividend payout ratio is 27.83%.

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.