Loblaw Companies (TSE:L) Share Price Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Loblaw Companies stock recently crossed above its 200-day moving average of C$209.02, reaching a high of C$231.36 during trading.
• Several analysts have increased their price targets for Loblaw Companies, with the consensus price target now at C$244.50 and a rating of "Moderate Buy."
• The company declared a quarterly dividend of $0.5643 scheduled for payment on October 1st, yielding approximately 1.0% annually.

Loblaw Companies Limited (TSE:L - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$209.02 and traded as high as C$231.36. Loblaw Companies shares last traded at C$231.10, with a volume of 257,183 shares traded.

Analyst Ratings Changes

A number of research firms have recently commented on L. BMO Capital Markets upped their target price on Loblaw Companies from C$220.00 to C$230.00 and gave the company a "market perform" rating in a research note on Friday, July 25th. UBS Group upped their target price on Loblaw Companies from C$210.00 to C$253.00 in a research note on Thursday, May 1st. TD Securities boosted their price target on Loblaw Companies from C$245.00 to C$250.00 and gave the company a "buy" rating in a report on Friday, July 25th. Scotiabank boosted their price target on Loblaw Companies from C$215.00 to C$245.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, CIBC boosted their price target on Loblaw Companies from C$208.00 to C$234.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of C$244.50.

Loblaw Companies Price Performance

The stock has a 50 day simple moving average of C$223.59 and a two-hundred day simple moving average of C$209.44. The firm has a market cap of C$68.74 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. The company has a debt-to-equity ratio of 166.11, a quick ratio of 0.68 and a current ratio of 1.29.

Loblaw Companies Dividend Announcement

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

Insider Activity

In related news, Senior Officer Nicholas Henn sold 4,000 shares of Loblaw Companies stock in a transaction dated 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 Loblaw Companies stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of C$230.50, for a total value of C$783,700.00. In the last 90 days, insiders sold 9,600 shares of company stock valued at $2,186,700. 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.