Brokerages Set Loblaw Companies Limited (TSE:L) PT 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%.

Shares of Loblaw Companies Limited (TSE:L - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is C$199.25.

Several equities research analysts recently commented on the stock. Desjardins upped their price target on shares of Loblaw Companies from C$230.00 to C$235.00 and gave the company a "hold" rating in a research report on Friday, July 25th. TD Securities upped their price target on shares of Loblaw Companies from C$245.00 to C$250.00 and gave the company a "buy" rating in a research report on Friday, July 25th. BMO Capital Markets upped their price target on shares of Loblaw Companies from C$220.00 to C$230.00 and gave the company a "market perform" rating in a research report on Friday, July 25th. Scotiabank upped their price target on shares of Loblaw Companies from C$61.00 to C$65.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, National Bankshares reduced their price target on shares of Loblaw Companies from C$242.00 to C$60.00 in a research report on Wednesday.

Insider Buying and Selling

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

Loblaw Companies Price Performance

L stock traded down C$1.89 on Wednesday, hitting C$56.88. 1,512,014 shares of the company's stock traded hands, compared to its average volume of 1,556,165. Loblaw Companies has a 1-year low of C$42.56 and a 1-year high of C$59.70. The stock has a market cap of C$17.20 billion, a price-to-earnings ratio of 7.72, a P/E/G ratio of 3.23 and a beta of 0.17. The stock has a fifty day moving average of C$210.75 and a 200-day moving average of C$206.66. The company has a current ratio of 1.29, a quick ratio of 0.68 and a debt-to-equity ratio of 166.11.

Loblaw Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a $0.5643 dividend. This represents a $2.26 annualized dividend and a dividend yield of 4.0%. Loblaw Companies's dividend payout ratio (DPR) is presently 27.83%.

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.