Loblaw Companies Limited (TSE:L) Receives C$244.50 Average Price Target from Analysts

Key Points

• Loblaw Companies Limited has received a consensus recommendation of "Moderate Buy" from eight ratings firms, with a twelve-month target price averaging C$244.50.
• Recent insider transactions included the sale of 27,328 shares over the last 90 days, valued at over $6 million, highlighting significant insider selling activity.
• The company announced a quarterly dividend of $0.5643, to be paid on October 1st, reflecting a 1.02% yield and a payout ratio of 27.83%.

Loblaw Companies Limited (TSE:L - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eight analysts that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is C$244.50.

A number of analysts recently issued reports on L shares. TD Securities raised their target price on shares of Loblaw Companies from C$245.00 to C$250.00 and gave the stock a "buy" rating in a research report on Friday. National Bankshares boosted their target price on shares of Loblaw Companies from C$235.00 to C$242.00 and gave the stock an "outperform" rating in a research report on Friday. Scotiabank lifted their price target on shares of Loblaw Companies from C$215.00 to C$245.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Royal Bank Of Canada boosted their target price on shares of Loblaw Companies from C$234.00 to C$267.00 in a research note on Monday, July 21st. Finally, Desjardins upped their price target on shares of Loblaw Companies from C$230.00 to C$235.00 and gave the stock a "hold" rating in a research note on Friday.

Loblaw Companies Price Performance

Loblaw Companies stock traded up C$4.10 during mid-day trading on Friday, reaching C$225.53. The company had a trading volume of 304,787 shares, compared to its average volume of 399,557. The stock's 50-day simple moving average is C$223.90 and its 200-day simple moving average is C$205.90. Loblaw Companies has a 1 year low of C$162.59 and a 1 year high of C$235.17. 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 company has a market capitalization of C$68.19 billion, a P/E ratio of 30.61, a P/E/G ratio of 3.23 and a beta of 0.17.

Loblaw Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a dividend of $0.5643 per share. This represents a $2.26 dividend on an annualized basis and a yield of 1.00%. Loblaw Companies's dividend payout ratio is currently 27.83%.

Insider Buying and Selling

In related news, Senior Officer Nicholas Henn sold 4,000 shares of Loblaw Companies stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of C$227.00, for a total transaction of C$908,000.00. Also, Senior Officer Frank Gambioli sold 1,304 shares of Loblaw Companies 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 transaction of C$278,880.09. In the last ninety days, insiders have sold 27,328 shares of company stock worth $6,132,567. 53.77% of the stock is currently owned by company insiders.

Loblaw Companies Company Profile

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.