Loblaw Companies (TSE:L) Shares Pass Above 200 Day Moving Average - Here's Why

Loblaw Companies Limited (TSE:L - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$200.73 and traded as high as C$226.25. Loblaw Companies shares last traded at C$223.79, with a volume of 249,526 shares trading hands.

Analyst Upgrades and Downgrades

L has been the topic of several research reports. TD Securities lifted their price target on Loblaw Companies from C$195.00 to C$245.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. 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. UBS Group increased their price target on shares of Loblaw Companies from C$210.00 to C$253.00 in a research note on Thursday, May 1st. Desjardins boosted their price objective on shares of Loblaw Companies from C$185.00 to C$230.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Finally, 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. One investment 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$236.88.

Loblaw Companies Price Performance

The company has a quick ratio of 0.68, a current ratio of 1.29 and a debt-to-equity ratio of 166.11. The stock has a market cap of C$67.66 billion, a P/E ratio of 30.38, a P/E/G ratio of 3.23 and a beta of 0.17. The firm has a 50 day moving average price of C$222.53 and a 200 day moving average price of C$200.73.

Loblaw Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, July 1st will be issued a dividend of $0.5643 per share. This is a positive change from Loblaw Companies's previous quarterly dividend of $0.51. This represents a $2.26 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Friday, June 13th. Loblaw Companies's dividend payout ratio (DPR) is 27.83%.

Insider Activity at Loblaw Companies

In other news, Senior Officer Jeffrey Francis Leger sold 3,400 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of C$230.50, for a total value of C$783,700.00. Also, Senior Officer Kieran Barry Columb sold 500 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of C$213.87, for a total value of C$106,932.55. Over the last ninety days, insiders sold 27,328 shares of company stock valued at $6,132,567. 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.

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