Shares of Loblaw Companies Limited (TSE:L - Get Free Report) reached a new 52-week high on Thursday following a dividend announcement from the company. The stock traded as high as C$155.01 and last traded at C$154.37, with a volume of 116577 shares. The stock had previously closed at C$152.84.
The newly announced dividend which will be paid on Monday, July 1st. Investors of record on Saturday, June 15th will be paid a dividend of $0.513 per share. This is a boost from Loblaw Companies's previous quarterly dividend of $0.45. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, June 14th. Loblaw Companies's payout ratio is currently 27.30%.
Analysts Set New Price Targets
Several brokerages recently commented on L. CIBC boosted their target price on Loblaw Companies from C$159.00 to C$171.00 and gave the stock an "outperform" rating in a report on Thursday. Desjardins boosted their price objective on Loblaw Companies from C$148.00 to C$157.00 and gave the stock a "hold" rating in a research note on Monday. Scotiabank raised their target price on Loblaw Companies from C$148.27 to C$161.00 and gave the company a "sector perform" rating in a research note on Thursday. Royal Bank of Canada boosted their price target on shares of Loblaw Companies from C$170.00 to C$172.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 24th. Finally, National Bankshares upped their price target on shares of Loblaw Companies from C$156.00 to C$159.00 and gave the company an "outperform" rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Loblaw Companies presently has an average rating of "Moderate Buy" and a consensus target price of C$160.71.
View Our Latest Stock Report on L
Loblaw Companies Stock Up 1.2 %
The business's 50 day simple moving average is C$149.05 and its 200-day simple moving average is C$133.58. The company has a debt-to-equity ratio of 156.41, a quick ratio of 0.68 and a current ratio of 1.25. The company has a market cap of C$47.81 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 2.53 and a beta of 0.12.
Loblaw Companies (TSE:L - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported C$2.00 earnings per share for the quarter, topping analysts' consensus estimates of C$1.92 by C$0.08. The company had revenue of C$14.53 billion during the quarter, compared to the consensus estimate of C$14.58 billion. Loblaw Companies had a return on equity of 18.96% and a net margin of 3.53%. Sell-side analysts expect that Loblaw Companies Limited will post 8.4881297 earnings per share for the current year.
Insider Activity
In other Loblaw Companies news, Senior Officer Kieran Barry Columb sold 10,000 shares of the firm's stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of C$150.00, for a total transaction of C$1,500,000.00. In other Loblaw Companies news, Senior Officer Kieran Barry Columb sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of C$150.00, for a total transaction of C$1,500,000.00. Also, Senior Officer Robert Wayne Wiebe sold 16,583 shares of the business's stock in a transaction on Monday, March 11th. The stock was sold at an average price of C$150.00, for a total transaction of C$2,487,450.00. In the last 90 days, insiders have sold 71,495 shares of company stock worth $10,547,163. 52.69% of the stock is owned by corporate insiders.
About Loblaw Companies
(
Get Free Report)
Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy and healthcare services, health and beauty products, apparels, general merchandise, financial services, and wireless mobile products and services in Canada. It operates in two segments, Retail and Financial Services. The Retail segment operates corporate and franchise-owned retail food, and associate-owned drug stores.
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