Loblaw Companies Limited (TSE:L) Announces Quarterly Dividend of $0.56

Loblaw Companies Limited (TSE:L - Get Free Report) announced a quarterly dividend on Thursday, July 24th, RTT News reports. Stockholders of record on Monday, September 15th will be paid a dividend of 0.5643 per share on Wednesday, October 1st. This represents a $2.26 dividend on an annualized basis and a dividend yield of 1.02%.

Loblaw Companies Price Performance

Shares of Loblaw Companies stock traded down C$0.15 during trading hours on Friday, reaching C$222.19. The stock had a trading volume of 307,209 shares, compared to its average volume of 400,335. The firm has a market capitalization of C$67.18 billion, a PE ratio of 30.16, a PEG ratio of 3.23 and a beta of 0.17. Loblaw Companies has a twelve month low of C$162.59 and a twelve month high of C$235.17. The company has a current ratio of 1.29, a quick ratio of 0.68 and a debt-to-equity ratio of 166.11. The stock's 50 day moving average is C$223.80 and its 200 day moving average is C$205.35.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on L. National Bankshares upped their price objective on Loblaw Companies from C$235.00 to C$242.00 and gave the company an "outperform" rating in a report on Friday. UBS Group increased their price target on Loblaw Companies from C$210.00 to C$253.00 in a report on Thursday, May 1st. TD Securities boosted their price objective on shares of Loblaw Companies from C$245.00 to C$250.00 and gave the company a "buy" rating in a report on Friday. Desjardins lifted their target price on shares of Loblaw Companies from C$230.00 to C$235.00 and gave the company a "hold" rating in a report on Friday. Finally, BMO Capital Markets boosted their price objective on Loblaw Companies from C$220.00 to C$230.00 and gave the company a "market perform" rating in a report on Friday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of C$244.50.

Insider Transactions at Loblaw Companies

In other Loblaw Companies news, Senior Officer Per Bank sold 13,924 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of C$223.00, for a total value of C$3,105,054.78. 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 value of C$278,880.09. Insiders sold a total of 27,328 shares of company stock valued at $6,132,567 over the last ninety days. 53.77% of the stock is currently owned by corporate insiders.

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.