Loblaw Companies (TSE:L) Insider Sells C$2,427,600.00 in Stock

Key Points

• Kieran Barry Columb sold 40,800 Loblaw shares on Nov. 14 at C$59.50 each for C$2,427,600, cutting his position by 19.95% to 163,696 shares (valued at ~C$9.74M).
• The company announced a quarterly dividend of C$0.1411 (annualized C$0.56) payable Dec. 30 with an ex-dividend date of Dec. 15, implying a yield of 0.9% and a payout ratio of 26.31%.
• Several analysts have recently raised targets and the stock carries an average rating of “Moderate Buy”, despite recent individual targets in the roughly C$61–67 range and a reported average target of C$113.50.

Loblaw Companies Limited (TSE:L - Get Free Report) insider Kieran Barry Columb sold 40,800 shares of the business's stock in a transaction dated Friday, November 14th. The stock was sold at an average price of C$59.50, for a total transaction of C$2,427,600.00. Following the sale, the insider directly owned 163,696 shares of the company's stock, valued at C$9,739,912. This represents a 19.95% decrease in their position.

Kieran Barry Columb also recently made the following trade(s):

• On Friday, November 14th, Kieran Barry Columb sold 37,088 shares of Loblaw Companies stock. The shares were sold at an average price of C$59.75, for a total transaction of C$2,216,008.00.
• On Friday, November 14th, Kieran Barry Columb sold 24,156 shares of Loblaw Companies stock. The stock was sold at an average price of C$59.96, for a total value of C$1,448,393.76.

Loblaw Companies Price Performance

TSE:L traded down C$0.21 during trading hours on Friday, hitting C$61.21. 1,802,310 shares of the stock were exchanged, compared to its average volume of 1,500,664. The firm's fifty day moving average price is C$58.92 and its 200 day moving average price is C$127.17. Loblaw Companies Limited has a 52-week low of C$43.32 and a 52-week high of C$63.43. The company has a market cap of C$72.30 billion, a P/E ratio of 29.89, a P/E/G ratio of 3.23 and a beta of 0.28. 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 Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 30th will be issued a $0.1411 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.56 dividend on an annualized basis and a yield of 0.9%. Loblaw Companies's dividend payout ratio (DPR) is presently 26.31%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on L shares. BMO Capital Markets lifted their target price on shares of Loblaw Companies from C$57.50 to C$63.00 in a research note on Thursday, November 13th. National Bankshares boosted their price target on shares of Loblaw Companies from C$60.00 to C$61.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 22nd. Scotiabank upped their price objective on shares of Loblaw Companies from C$61.00 to C$65.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. CIBC raised their target price on shares of Loblaw Companies from C$58.50 to C$67.00 in a research note on Thursday, November 13th. Finally, TD Securities boosted their target price on Loblaw Companies from C$63.00 to C$65.00 in a report on Thursday, November 13th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$113.50.

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.

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