Key Points
- Insider selling: Loblaw Companies insider Melanie Singh sold 4,820 shares on June 9 at an average price of C$66.72, for a total of about C$321,590.
- Dividend increase: The company raised its quarterly dividend to C$0.1552 per share from C$0.14, payable July 1, which puts the annualized yield at about 1.0%.
- Analyst sentiment remains mixed: Loblaw has a consensus Moderate Buy rating with an average target price of C$69.25, though recent opinions were split between upgrades and downgrades.
Loblaw Companies Limited (TSE:L - Get Free Report) insider Melanie Singh sold 4,820 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of C$66.72, for a total transaction of C$321,590.40.
Loblaw Companies Stock Performance
Shares of L stock opened at C$65.00 on Monday. Loblaw Companies Limited has a 12-month low of C$52.92 and a 12-month high of C$69.59. The business's fifty day simple moving average is C$62.41 and its 200-day simple moving average is C$62.92. The company has a current ratio of 1.09, a quick ratio of 0.68 and a debt-to-equity ratio of 153.41. The company has a market cap of C$75.65 billion, a PE ratio of 28.26, a PEG ratio of 3.23 and a beta of 0.15.
Loblaw Companies (TSE:L - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C$0.52 EPS for the quarter. The firm had revenue of C$14.48 billion during the quarter. Loblaw Companies had a net margin of 4.29% and a return on equity of 24.88%. Analysts expect that Loblaw Companies Limited will post 9.1225541 earnings per share for the current fiscal year.
Loblaw Companies Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, July 1st will be paid a dividend of $0.1552 per share. The ex-dividend date is Monday, June 15th. This is an increase from Loblaw Companies's previous quarterly dividend of $0.14. This represents a $0.62 annualized dividend and a dividend yield of 1.0%. Loblaw Companies's payout ratio is presently 24.53%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on L. TD Securities raised their target price on Loblaw Companies from C$65.00 to C$75.00 and gave the stock a "buy" rating in a research note on Monday, February 23rd. Canadian Imperial Bank of Commerce cut their price objective on Loblaw Companies from C$75.00 to C$69.00 in a report on Thursday, May 7th. Desjardins raised their price objective on Loblaw Companies from C$67.00 to C$70.00 and gave the stock a "buy" rating in a research note on Thursday, February 26th. Scotiabank downgraded Loblaw Companies from an "outperform" rating to a "hold" rating and set a C$70.00 target price for the company. in a report on Thursday, April 9th. Finally, Scotia dropped their target price on Loblaw Companies from C$70.00 to C$64.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Loblaw Companies presently has a consensus rating of "Moderate Buy" and an average target price of C$69.25.
View Our Latest Stock Analysis on Loblaw Companies
Loblaw Companies Company Profile
(
Get Free Report)
Loblaw is one of Canada's largest grocery, pharmacy, and general merchandise retailers, operating the most expansive store footprint in Ontario and maintaining sizable presences in provinces like Quebec and British Columbia. Key grocery banners include Loblaw, No Frills, and Maxi, while its pharmaceutical operations are the product of its 2014 acquisition of Shoppers Drug Mart. The firm carries a robust private-label assortment, with top sellers like President's Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.
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