BMO Capital Markets Raises Loblaw Companies (TSE:L) Price Target to C$200.00

Loblaw Companies (TSE:L - Free Report) had its price target raised by BMO Capital Markets from C$180.00 to C$200.00 in a research note released on Monday,BayStreet.CA reports.

L has been the subject of a number of other research reports. Scotiabank raised Loblaw Companies from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from C$190.00 to C$215.00 in a report on Friday, April 11th. TD Securities decreased their price objective on shares of Loblaw Companies from C$202.00 to C$195.00 and set a "buy" rating for the company in a research report on Friday, February 21st. CIBC boosted their target price on shares of Loblaw Companies from C$206.00 to C$208.00 in a report on Friday, February 21st. UBS Group dropped their price target on Loblaw Companies from C$225.00 to C$210.00 in a research note on Friday, February 21st. Finally, Royal Bank of Canada increased their price target on Loblaw Companies from C$215.00 to C$234.00 in a report on Monday, April 14th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$207.38.

Loblaw Companies Price Performance

Loblaw Companies stock traded up C$1.11 during mid-day trading on Monday, reaching C$216.42. The company had a trading volume of 146,803 shares, compared to its average volume of 427,312. The business has a fifty day simple moving average of C$196.38 and a 200 day simple moving average of C$187.65. The company has a market cap of C$65.43 billion, a P/E ratio of 29.38, a P/E/G ratio of 3.23 and a beta of 0.17. 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 has a fifty-two week low of C$146.49 and a fifty-two week high of C$218.99.

Loblaw Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st were issued a $0.513 dividend. This represents a $2.05 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Friday, March 14th. Loblaw Companies's payout ratio is currently 27.83%.

Insider Activity at Loblaw Companies

In other news, Director Willard Galen Garfield Weston sold 104,364 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of C$182.50, for a total value of C$19,046,690.91. Also, Director Richard Dufresne sold 25,783 shares of Loblaw Companies stock in a transaction on Monday, March 3rd. The shares were sold at an average price of C$186.55, for a total value of C$4,809,847.01. In the last three months, insiders have sold 141,456 shares of company stock worth $25,966,244. 53.77% of the stock is owned by company insiders.

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.