Brokerages Set Loblaw Companies Limited (TSE:L) Price Target at C$162.43

Loblaw Companies Limited (TSE:L) has been assigned an average rating of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$162.43.

L has been the subject of a number of research reports. CIBC increased their target price on shares of Loblaw Companies from C$159.00 to C$171.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. National Bankshares increased their target price on shares of Loblaw Companies from C$156.00 to C$159.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Desjardins increased their target price on shares of Loblaw Companies from C$148.00 to C$157.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Scotiabank increased their target price on shares of Loblaw Companies from C$148.27 to C$161.00 and gave the company a “sector perform” rating in a research report on Thursday, May 2nd. Finally, TD Securities increased their target price on shares of Loblaw Companies from C$168.00 to C$172.00 and gave the company a “buy” rating in a research report on Friday, May 3rd.

Insider Buying and Selling

In related news, Senior Officer Melanie Singh sold 1,464 shares of Loblaw Companies stock in a transaction on Monday, May 13th. The shares were sold at an average price of C$155.09, for a total value of C$227,046.05. In other Loblaw Companies news, Senior Officer Kieran Barry Columb sold 5,500 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of C$162.00, for a total value of C$891,000.00. Also, Senior Officer Melanie Singh sold 1,464 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of C$155.09, for a total transaction of C$227,046.05. Insiders have sold a total of 83,929 shares of company stock worth $13,160,644 in the last 90 days. 53.29% of the stock is owned by company insiders.

Loblaw Companies Trading Up 0.7 %

L opened at C$159.11 on Friday. The company has a debt-to-equity ratio of 156.41, a current ratio of 1.25 and a quick ratio of 0.68. Loblaw Companies has a fifty-two week low of C$110.52 and a fifty-two week high of C$164.94. The firm has a market capitalization of C$48.91 billion, a PE ratio of 24.02, a P/E/G ratio of 2.53 and a beta of 0.12. The company’s 50-day moving average is C$155.69 and its 200 day moving average is C$144.38.

Loblaw Companies (TSE:L) last issued its quarterly earnings data on Wednesday, May 1st. The company reported C$1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.70 by C$0.02. Loblaw Companies had a net margin of 3.53% and a return on equity of 18.96%. The business had revenue of C$13.58 billion during the quarter, compared to the consensus estimate of C$13.29 billion. As a group, research analysts predict that Loblaw Companies will post 8.3923706 earnings per share for the current fiscal year.

Loblaw Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, July 1st will be given a $0.513 dividend. This represents a $2.05 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Friday, June 14th. This is a boost from Loblaw Companies’s previous quarterly dividend of $0.45. Loblaw Companies’s dividend payout ratio (DPR) is presently 31.01%.

About Loblaw Companies

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.