Loblaw Companies (TSE:L) Price Target Raised to C$189.00

Loblaw Companies (TSE:L) had its price target lifted by CIBC from C$171.00 to C$189.00 in a report published on Friday, BayStreet.CA reports.

A number of other equities research analysts also recently commented on the stock. Desjardins lifted their target price on shares of Loblaw Companies from C$157.00 to C$172.00 and gave the stock a hold rating in a research report on Tuesday, July 23rd. National Bankshares lifted their target price on shares of Loblaw Companies from C$159.00 to C$175.00 and gave the stock an outperform rating in a research report on Friday. Scotiabank lifted their target price on shares of Loblaw Companies from C$148.27 to C$161.00 and gave the stock a sector perform rating in a research report on Thursday, May 2nd. TD Securities lifted their target price on shares of Loblaw Companies from C$172.00 to C$186.00 and gave the stock a buy rating in a research report on Monday, July 22nd. Finally, BMO Capital Markets lifted their target price on shares of Loblaw Companies from C$160.00 to C$180.00 in a research report on Friday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of C$176.43.

Loblaw Companies Price Performance

Shares of L opened at C$168.73 on Friday. The company has a market capitalization of C$51.87 billion, a P/E ratio of 25.53, a price-to-earnings-growth ratio of 2.53 and a beta of 0.12. The company has a quick ratio of 0.68, a current ratio of 1.25 and a debt-to-equity ratio of 156.41. The firm has a 50 day moving average of C$160.68 and a 200 day moving average of C$150.63. Loblaw Companies has a twelve month low of C$110.52 and a twelve month high of C$171.99.

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

Loblaw Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Sunday, September 15th will be paid a dividend of $0.513 per share. This represents a $2.05 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Friday, September 13th. Loblaw Companies’s dividend payout ratio is presently 31.01%.

Insider Transactions at Loblaw Companies

In related news, Senior Officer Kieran Barry Columb sold 13,100 shares of Loblaw Companies stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of C$157.12, for a total transaction of C$2,058,249.73. In other news, Senior Officer Kieran Barry Columb sold 13,100 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of C$157.12, for a total value of C$2,058,249.73. Also, Senior Officer Melanie Singh sold 1,464 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of C$155.09, for a total transaction of C$227,046.05. Insiders have sold 83,929 shares of company stock worth $13,160,644 in the last 90 days. 53.29% of the stock is currently owned by insiders.

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.