Loblaw Companies (TSE:L) Hits New 52-Week High - Here's Why

Key Points

• Loblaw Companies Limited reached a new 52-week high of C$59.26 during trading, closing at C$58.76, reflecting significant investor interest with a trading volume of 1,263,079 shares.
• Analysts have shown strong confidence in Loblaw, with multiple firms raising their price targets significantly, resulting in an average target price of C$244.50 and a consensus rating of "Moderate Buy."
• The company also announced a quarterly dividend of $0.5643, representing an annualized dividend of $2.26 and a yield of 3.8%, contributing to its attractiveness to income-focused investors.

Loblaw Companies Limited (TSE:L - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$59.26 and last traded at C$58.76, with a volume of 1263079 shares. The stock had previously closed at C$57.70.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. 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 research report on Friday, July 25th. BMO Capital Markets boosted their price target on Loblaw Companies from C$220.00 to C$230.00 and gave the company a "market perform" rating in a report on Friday, July 25th. UBS Group boosted their price target on Loblaw Companies from C$210.00 to C$253.00 in a report on Thursday, May 1st. Desjardins boosted their price target on Loblaw Companies from C$230.00 to C$235.00 and gave the company a "hold" rating in a report on Friday, July 25th. Finally, CIBC boosted their target price on Loblaw Companies from C$208.00 to C$234.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of C$244.50.

Loblaw Companies Stock Performance

The company has a market capitalization of C$17.77 billion, a PE ratio of 7.98, a PEG ratio of 3.23 and a beta of 0.17. The company has a 50 day moving average of C$220.59 and a two-hundred day moving average of C$209.38. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a $0.5643 dividend. This represents a $2.26 dividend on an annualized basis and a dividend yield of 3.8%. Loblaw Companies's dividend payout ratio is presently 27.83%.

Insider Transactions at Loblaw Companies

In other Loblaw Companies news, Senior Officer Jeffrey Francis Leger sold 3,400 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of C$230.50, for a total value of C$783,700.00. Also, Senior Officer Nicholas Henn sold 4,000 shares of the company's 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. Insiders sold a total of 9,600 shares of company stock worth $2,186,700 over the last ninety days. Insiders own 53.77% of the company's stock.

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.

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