Analysts Set Loblaw Companies Limited (TSE:L) Price Target at C$244.50

Key Points

• Loblaw Companies Limited has received a consensus rating of "Moderate Buy" from analysts, with two hold recommendations and six buy recommendations from eight firms covering the stock.
• The average twelve-month price target for Loblaw shares has been set at C$244.50, with various analysts adjusting their price objectives significantly higher in recent reports.
• The company announced a quarterly dividend of $0.5643 per share, which is set to yield 3.8%, with a dividend payout ratio of 27.83%.

Loblaw Companies Limited (TSE:L - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eight research firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is C$199.25.

L has been the topic of a number of recent research reports. Desjardins boosted 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 report on Friday, July 25th. Scotiabank boosted their price target on shares of Loblaw Companies from C$61.00 to C$65.00 and gave the stock an "outperform" rating in a research report on Thursday. UBS Group boosted their price target on shares of Loblaw Companies from C$210.00 to C$253.00 in a research report on Thursday, May 1st. National Bankshares lowered their price target on shares of Loblaw Companies from C$242.00 to C$60.00 in a research report on Wednesday. Finally, BMO Capital Markets boosted their price target on shares of Loblaw Companies from C$220.00 to C$230.00 and gave the stock a "market perform" rating in a research report on Friday, July 25th.

Insider Transactions at Loblaw Companies

In other Loblaw Companies news, Senior Officer Jeffrey Francis Leger sold 3,400 shares of Loblaw Companies stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of C$230.50, for a total transaction of C$783,700.00. Also, Senior Officer Nicholas Henn sold 4,000 shares of Loblaw Companies stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of C$227.00, for a total transaction of C$908,000.00. 53.77% of the stock is owned by insiders.

Loblaw Companies Price Performance

L traded down C$1.89 on Wednesday, reaching C$56.88. 1,512,014 shares of the company's stock were exchanged, compared to its average volume of 1,556,165. The stock has a market cap of C$17.20 billion, a PE ratio of 7.72, a P/E/G ratio of 3.23 and a beta of 0.17. Loblaw Companies has a twelve month low of C$42.56 and a twelve month high of C$59.70. The stock's fifty day moving average price is C$210.75 and its 200-day moving average price is C$207.03. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a dividend of $0.5643 per share. This represents a $2.26 dividend on an annualized basis and a yield of 4.0%. Loblaw Companies's dividend payout ratio (DPR) is presently 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.