Loblaw Companies (TSE:L) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Loblaw Companies Limited’s stock recently surpassed its two hundred day moving average, trading as high as C$225.00 before settling at C$223.56.
• Equity analysts have raised their price targets for Loblaw, with TD Securities forecasting a price of C$250.00 and a consensus rating currently standing at "Moderate Buy."
• The company has announced a quarterly dividend of $0.5643 per share, equating to an annualized yield of 1.0%, to be paid on October 1st.

Loblaw Companies Limited (TSE:L - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$207.04 and traded as high as C$225.00. Loblaw Companies shares last traded at C$223.56, with a volume of 255,028 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Desjardins raised their price objective on Loblaw Companies from C$230.00 to C$235.00 and gave the stock a "hold" rating in a report on Friday, July 25th. National Bankshares raised their price objective on Loblaw Companies from C$235.00 to C$242.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. UBS Group raised their price objective on Loblaw Companies from C$210.00 to C$253.00 in a report on Thursday, May 1st. Scotiabank raised their price objective on Loblaw Companies from C$215.00 to C$245.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, TD Securities raised their price objective on Loblaw Companies from C$245.00 to C$250.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$244.50.

Loblaw Companies Trading Down 0.2%

The company has a market cap of C$67.59 billion, a price-to-earnings ratio of 30.35, a P/E/G ratio of 3.23 and a beta of 0.17. 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 firm's fifty day moving average price is C$223.86 and its 200-day moving average price is C$207.33.

Loblaw Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.5643 per share. This represents a $2.26 dividend on an annualized basis and a yield of 1.0%. Loblaw Companies's dividend payout ratio (DPR) is presently 27.83%.

Insiders Place Their Bets

In other news, Senior Officer Nicholas Henn sold 4,000 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of C$227.00, for a total value of C$908,000.00. Also, Senior Officer Jeffrey Francis Leger sold 3,400 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of C$230.50, for a total value of C$783,700.00. Over the last quarter, insiders have sold 11,404 shares of company stock worth $2,572,513. Insiders own 53.77% of the company's stock.

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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