Loblaw Companies (TSE:L) Hits New 12-Month High After Analyst Upgrade

Loblaw Companies Limited (TSE:L - Get Free Report) hit a new 52-week high during trading on Tuesday after BMO Capital Markets raised their price target on the stock from C$180.00 to C$200.00. The stock traded as high as C$216.40 and last traded at C$215.43, with a volume of 272701 shares traded. The stock had previously closed at C$213.68.

Other research analysts have also recently issued research reports about the company. TD Securities dropped their price target on 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. National Bankshares raised their target price on shares of Loblaw Companies from C$192.00 to C$207.00 in a report on Thursday, April 10th. Royal Bank of Canada upped their price target on shares of Loblaw Companies from C$215.00 to C$234.00 in a report on Monday, April 14th. Scotiabank raised shares of Loblaw Companies from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from C$190.00 to C$215.00 in a research note on Friday, April 11th. Finally, CIBC upped their target price on Loblaw Companies from C$206.00 to C$208.00 in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Loblaw Companies currently has an average rating of "Moderate Buy" and an average price target of C$207.38.

Insiders Place Their Bets

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

Loblaw Companies Price Performance

The company has a debt-to-equity ratio of 166.11, a current ratio of 1.29 and a quick ratio of 0.68. The company has a market cap of C$65.43 billion, a PE ratio of 29.38, a P/E/G ratio of 3.23 and a beta of 0.17. The company has a 50-day moving average price of C$196.38 and a two-hundred day moving average price of C$187.65.

Loblaw Companies Announces Dividend

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

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.