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

Key Points

• Loblaw Companies' stock price fell below its 200-day moving average during trading, hitting a low of C$57.25 before last trading at C$58.08.
• Several brokerages have recently revised their price targets for Loblaw, with Scotiabank increasing its target to C$65.00 and Royal Bank of Canada raising it to C$267.00.
• Recently, Loblaw Companies announced a quarterly dividend of $0.5643 per share, representing an annualized yield of 3.9%.

Loblaw Companies Limited (TSE:L - Get Free Report)'s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$171.54 and traded as low as C$57.25. Loblaw Companies shares last traded at C$58.08, with a volume of 1,438,660 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently weighed in on L. Scotiabank boosted their price objective on shares of Loblaw Companies from C$61.00 to C$65.00 and gave the stock an "outperform" rating in a research report on Thursday, August 21st. BMO Capital Markets lifted their price target on shares of Loblaw Companies from C$220.00 to C$230.00 and gave the stock a "market perform" rating in a research note on Friday, July 25th. TD Securities upped their price objective on shares of Loblaw Companies from C$245.00 to C$250.00 and gave the company a "buy" rating in a research note on Friday, July 25th. National Bankshares dropped their price objective on Loblaw Companies from C$242.00 to C$60.00 in a report on Wednesday, August 20th. Finally, Royal Bank Of Canada boosted their target price on Loblaw Companies from C$234.00 to C$267.00 in a report on Monday, July 21st. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$199.25.

Loblaw Companies Stock Up 1.1%

The firm has a market capitalization of C$69.05 billion, a PE ratio of 28.79, a PEG ratio of 3.23 and a beta of 0.29. The business's fifty day moving average price is C$79.90 and its 200 day moving average price is C$171.54. The company has a quick ratio of 0.68, a current ratio of 1.29 and a debt-to-equity ratio of 166.11.

Loblaw Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Wednesday, October 1st were given a dividend of $0.5643 per share. This represents a $2.26 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Monday, September 15th. Loblaw Companies's dividend payout ratio (DPR) is presently 26.06%.

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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