Loblaw Companies (TSE:L) Reaches New 52-Week High - What's Next?

Shares of Loblaw Companies Limited (TSE:L - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$229.57 and last traded at C$229.57, with a volume of 69127 shares changing hands. The stock had previously closed at C$225.05.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on L. Royal Bank of Canada boosted their price target on shares of Loblaw Companies from C$215.00 to C$234.00 in a research report on Monday, April 14th. National Bankshares raised their target price on shares of Loblaw Companies from C$207.00 to C$234.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. TD Securities raised their target price on shares of Loblaw Companies from C$195.00 to C$245.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. UBS Group raised their target price on shares of Loblaw Companies from C$210.00 to C$253.00 in a research note on Thursday, May 1st. Finally, CIBC upped their target price on shares of Loblaw Companies from C$208.00 to C$234.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of C$236.88.

Loblaw Companies Trading Down 0.5%

The company has a market capitalization of C$69.80 billion, a P/E ratio of 31.34, a P/E/G ratio of 3.23 and a beta of 0.17. The stock's 50 day moving average is C$213.67 and its 200-day moving average is C$194.95. 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 was paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.513 per share. This represents a $2.05 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Friday, March 14th. Loblaw Companies's dividend payout ratio is 27.83%.

Insider Buying and Selling at Loblaw Companies

In other news, Director Richard Dufresne sold 25,783 shares of the 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, Senior Officer Per Bank sold 13,924 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of C$223.00, for a total transaction of C$3,105,054.78. Over the last quarter, insiders sold 57,020 shares of company stock valued at $11,360,421. Corporate 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.