Loblaw Companies (TSE:L) Sets New 1-Year High Following Analyst Upgrade

Posted by Defense World Staff on Apr 12th, 2023

Loblaw Companies Limited (TSE:L – Get Rating)’s stock price reached a new 52-week high during trading on Tuesday after National Bankshares raised their price target on the stock from C$137.00 to C$140.00. National Bankshares currently has an outperform rating on the stock. Loblaw Companies traded as high as C$126.92 and last traded at C$126.83, with a volume of 176740 shares traded. The stock had previously closed at C$125.68.

L has been the topic of several other research reports. Royal Bank of Canada lifted their target price on shares of Loblaw Companies from C$165.00 to C$168.00 and gave the stock an “outperform” rating in a research report on Friday, February 24th. BMO Capital Markets boosted their price objective on Loblaw Companies from C$123.00 to C$130.00 in a research report on Friday, February 24th. CIBC upped their price objective on Loblaw Companies from C$145.00 to C$149.00 and gave the company an “outperform” rating in a research note on Friday, February 24th. Finally, TD Securities lifted their target price on Loblaw Companies from C$135.00 to C$140.00 and gave the stock a “buy” rating in a research note on Friday, February 24th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Loblaw Companies currently has a consensus rating of “Moderate Buy” and an average target price of C$139.69.

Insiders Place Their Bets

In other Loblaw Companies news, Director Richard Dufresne sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of C$118.35, for a total value of C$591,725.00. In other news, Director Willard Galen Garfield Weston sold 12,002 shares of the business’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of C$117.10, for a total value of C$1,405,449.80. Also, Director Richard Dufresne sold 5,000 shares of the company’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of C$118.35, for a total value of C$591,725.00. 52.68% of the stock is currently owned by company insiders.

Loblaw Companies Stock Performance

The business has a fifty day simple moving average of C$118.35 and a two-hundred day simple moving average of C$116.90. The company has a quick ratio of 0.68, a current ratio of 1.33 and a debt-to-equity ratio of 153.68. The company has a market cap of C$40.90 billion, a P/E ratio of 22.03, a P/E/G ratio of 10.36 and a beta of 0.06.

Loblaw Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, April 1st. Shareholders of record on Saturday, April 1st were given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Tuesday, March 14th. Loblaw Companies’s payout ratio is 28.17%.

Loblaw Companies Company Profile

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Loblaw Companies Limited, a food and pharmacy company, engages in the grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products and services businesses 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.