Loblaw Companies (TSE:L) Sets New 52-Week Low - Here's What Happened

Key Points

• Loblaw Companies Limited's share price hit a new 52-week low at C$53.98, closing at C$54.40, while trading volume reached 487,465 shares on Monday.
• Analysts have mixed views on the stock, with TD Securities raising their target price to C$250.00 and National Bankshares lowering it significantly to C$60.00, resulting in an average target price of C$199.25.
• The company declared a quarterly dividend of $0.5643, set to be paid on October 1st, reflecting an annualized yield of 4.2% and a payout ratio of 26.06%.

Shares of Loblaw Companies Limited (TSE:L - Get Free Report) hit a new 52-week low during trading on Monday . The company traded as low as C$53.98 and last traded at C$54.40, with a volume of 487465 shares traded. The stock had previously closed at C$55.44.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on L. National Bankshares decreased their target price on Loblaw Companies from C$242.00 to C$60.00 in a research report on Wednesday, August 20th. Royal Bank Of Canada boosted their target price on Loblaw Companies from C$234.00 to C$267.00 in a research report on Monday, July 21st. Scotiabank boosted their target price on Loblaw Companies from C$61.00 to C$65.00 and gave the stock an "outperform" rating in a research report on Thursday, August 21st. 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 research report on Friday, July 25th. Finally, Desjardins boosted their price objective on 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. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Loblaw Companies has a consensus rating of "Moderate Buy" and a consensus price target of C$199.25.

Loblaw Companies Stock Up 1.1%

The stock has a 50 day moving average price of C$150.27 and a 200 day moving average price of C$191.19. The stock has a market capitalization of C$65.26 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 3.23 and a beta of 0.42. The company has a quick ratio of 0.68, a current ratio of 1.29 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. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.5643 per share. This represents a $2.26 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, September 15th. Loblaw Companies's dividend payout ratio (DPR) is presently 26.06%.

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.