Loblaw Companies (TSE:L) Shares Pass Above Two Hundred Day Moving Average - Time to Sell?

Loblaw Companies Limited (TSE:L - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$196.05 and traded as high as C$234.15. Loblaw Companies shares last traded at C$229.06, with a volume of 409,442 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on L shares. UBS Group raised their price target on Loblaw Companies from C$210.00 to C$253.00 in a research note on Thursday, May 1st. Desjardins lifted their target price on Loblaw Companies from C$185.00 to C$230.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. TD Securities lifted their target price on Loblaw Companies from C$195.00 to C$245.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. CIBC lifted their target price on 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. Finally, National Bankshares lifted their target price on Loblaw Companies from C$207.00 to C$234.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of C$236.88.

Loblaw Companies Price Performance

The company has a fifty day simple moving average of C$216.37 and a two-hundred day simple moving average of C$196.25. The company has a debt-to-equity ratio of 166.11, a quick ratio of 0.68 and a current ratio of 1.29. The company has a market capitalization of C$67.95 billion, a price-to-earnings ratio of 30.51, a P/E/G ratio of 3.23 and a beta of 0.17.

Loblaw Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.5643 per share. This represents a $2.26 dividend on an annualized basis and a dividend yield of 1.00%. This is an increase from Loblaw Companies's previous quarterly dividend of $0.51. The ex-dividend date is Friday, June 13th. Loblaw Companies's dividend payout ratio is presently 27.83%.

Insider Transactions at Loblaw Companies

In related news, Senior Officer Per Bank sold 13,924 shares of the company's stock in a transaction 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. Also, Senior Officer Jeffrey Francis Leger sold 3,400 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of C$230.50, for a total transaction of C$783,700.00. Insiders sold a total of 27,328 shares of company stock worth $6,132,567 in the last ninety days. 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.