Loblaw Companies Limited (TSE:L) to Issue Quarterly Dividend of $0.51

Loblaw Companies Limited (TSE:L - Get Free Report) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Saturday, June 15th will be paid a dividend of 0.513 per share on Monday, July 1st. This represents a $2.05 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, June 14th. This is an increase from Loblaw Companies's previous quarterly dividend of $0.45.

Loblaw Companies Trading Up 1.2 %

L traded up C$1.77 on Thursday, hitting C$154.61. 279,087 shares of the company were exchanged, compared to its average volume of 363,684. The stock has a market capitalization of C$47.81 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 2.53 and a beta of 0.12. Loblaw Companies has a 12 month low of C$110.52 and a 12 month high of C$155.22. The firm has a fifty day simple moving average of C$149.29 and a two-hundred day simple moving average of C$133.72. The company has a debt-to-equity ratio of 156.41, a quick ratio of 0.68 and a current ratio of 1.25.

Loblaw Companies (TSE:L - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported C$2.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of C$1.92 by C$0.08. Loblaw Companies had a return on equity of 18.96% and a net margin of 3.53%. The business had revenue of C$14.53 billion during the quarter, compared to analysts' expectations of C$14.58 billion. Sell-side analysts expect that Loblaw Companies will post 8.4881297 earnings per share for the current year.

Insider Activity at Loblaw Companies

In other news, Senior Officer Frank Gambioli sold 4,603 shares of the firm's stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$144.00, for a total transaction of C$662,832.00. In other Loblaw Companies news, Senior Officer Frank Gambioli sold 4,603 shares of Loblaw Companies stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$144.00, for a total value of C$662,832.00. Also, Senior Officer Robert Wayne Wiebe sold 16,583 shares of Loblaw Companies stock in a transaction that occurred 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. Insiders sold a total of 71,495 shares of company stock worth $10,547,163 over the last 90 days. Company insiders own 52.69% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on L. TD Securities boosted their price target on Loblaw Companies from C$150.00 to C$160.00 and gave the company a "buy" rating in a report on Friday, February 23rd. Royal Bank of Canada upped their price objective on Loblaw Companies from C$170.00 to C$172.00 and gave the company an "outperform" rating in a research report on Wednesday, January 24th. Scotiabank upped 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. BMO Capital Markets upped their target price on Loblaw Companies from C$130.00 to C$145.00 in a research note on Friday, February 23rd. Finally, CIBC lifted their price target on Loblaw Companies from C$159.00 to C$171.00 and gave the stock an "outperform" rating in a research report on Thursday. Two research 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$160.71.

Loblaw Companies Company Profile

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.