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

Loblaw Companies Limited (TSE:L - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seven analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is C$236.88.

Several equities research analysts have issued reports on L shares. UBS Group raised their price target on shares of Loblaw Companies from C$210.00 to C$253.00 in a research note on Thursday, May 1st. TD Securities raised their target price on shares of Loblaw Companies from C$195.00 to C$245.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. National Bankshares lifted their target price on shares of Loblaw Companies from C$207.00 to C$234.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. BMO Capital Markets increased their price target on Loblaw Companies from C$200.00 to C$220.00 in a research note on Thursday, May 1st. Finally, CIBC lifted their price objective on Loblaw Companies from C$208.00 to C$234.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st.

Loblaw Companies Price Performance

L stock traded down C$3.73 during midday trading on Tuesday, hitting C$221.52. 75,125 shares of the stock were exchanged, compared to its average volume of 409,044. The company has a debt-to-equity ratio of 166.11, a quick ratio of 0.68 and a current ratio of 1.29. The stock has a market cap of C$66.98 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 3.23 and a beta of 0.17. Loblaw Companies has a fifty-two week low of C$160.14 and a fifty-two week high of C$235.17. The stock's 50-day moving average price is C$223.10 and its 200-day moving average price is C$201.42.

Loblaw Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, July 1st were paid a dividend of $0.5643 per share. This is an increase from Loblaw Companies's previous quarterly dividend of $0.51. This represents a $2.26 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Friday, June 13th. Loblaw Companies's dividend payout ratio is presently 27.83%.

Insiders Place Their Bets

In other news, Senior Officer Kieran Barry Columb sold 500 shares of the 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$106,932.55. Also, Senior Officer Nicholas Henn sold 4,000 shares of the firm's 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. Over the last 90 days, insiders have sold 27,328 shares of company stock worth $6,132,567. 53.77% of the stock is owned by company 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.