Per Bank Sells 203,623 Shares of Loblaw Companies (TSE:L) Stock

Key Points

• Insider selling: Per Bank sold 203,623 Loblaw shares at an average C$62.01, generating approximately C$12.63 million; he also sold an additional 39,762 shares worth about C$2.47 million.
• Stock and performance: Loblaw shares rose 1.4% to C$63.31, while the company reported quarterly revenue of C$15.05 billion and EPS of C$0.66.
• Dividend and outlook: Loblaw declared a quarterly dividend of C$0.1552 per share, and analysts maintain a “Moderate Buy” consensus with an average price target of C$71.00.

Loblaw Companies Limited (TSE:L - Get Free Report) insider Per Bank sold 203,623 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of C$62.01, for a total value of C$12,626,662.23.

Per Bank also recently made the following trade(s):

• On Tuesday, September 1st, Per Bank sold 39,762 shares of Loblaw Companies stock. The stock was sold at an average price of C$62.01, for a total transaction of C$2,465,641.62.

Loblaw Companies Stock Up 1.4%

TSE:L traded up C$0.87 on Friday, hitting C$63.31. The stock had a trading volume of 1,346,815 shares, compared to its average volume of 1,340,454. Loblaw Companies Limited has a 1 year low of C$52.92 and a 1 year high of C$69.59. The firm's fifty day simple moving average is C$63.25 and its two-hundred day simple moving average is C$63.25. 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 stock has a market cap of C$73.16 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 3.23 and a beta of 0.06.

Loblaw Companies (TSE:L - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported C$0.66 earnings per share (EPS) for the quarter. The company had revenue of C$15.05 billion during the quarter. Loblaw Companies had a return on equity of 25.25% and a net margin of 4.32%. Analysts predict that Loblaw Companies Limited will post 9.1225541 earnings per share for the current year.

Loblaw Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, October 1st will be given a dividend of $0.1552 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Loblaw Companies's dividend payout ratio is currently 24.51%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on L. TD Securities raised shares of Loblaw Companies to a "strong-buy" rating in a research note on Wednesday, July 29th. Desjardins raised their price target on shares of Loblaw Companies from C$70.00 to C$72.00 and gave the company a "buy" rating in a report on Friday, July 31st. BMO Capital Markets boosted their price target on shares of Loblaw Companies from C$70.00 to C$73.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. National Bank Financial upped their price target on shares of Loblaw Companies from C$67.00 to C$70.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Finally, Scotia increased their price objective on Loblaw Companies from C$64.00 to C$67.00 and gave the stock a "sector perform" rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$71.00.

Loblaw Companies Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source