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

Loblaw Companies Limited (TSE:L) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Investors 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 1.34%. The ex-dividend date is Friday, June 14th. This is a boost from Loblaw Companies’s previous quarterly dividend of $0.45.

Loblaw Companies Trading Up 0.5 %

Shares of Loblaw Companies stock traded up C$0.80 during trading on Thursday, hitting C$153.64. The company’s stock had a trading volume of 31,775 shares, compared to its average volume of 360,574. 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 52 week low of C$110.52 and a 52 week high of C$154.70. The stock has a market cap of C$47.51 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 2.53 and a beta of 0.12. The stock has a 50-day moving average price of C$149.05 and a two-hundred day moving average price of C$133.58.

Loblaw Companies (TSE:L) last issued its quarterly earnings results on Thursday, February 22nd. The company reported C$2.00 EPS for the quarter, beating analysts’ consensus estimates of C$1.92 by C$0.08. The business had revenue of C$14.53 billion for the quarter, compared to analysts’ expectations of C$14.58 billion. Loblaw Companies had a net margin of 3.53% and a return on equity of 18.96%. Equities research analysts anticipate that Loblaw Companies will post 8.4881297 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on L. TD Securities upped their price objective on shares of 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 shares of Loblaw Companies from C$170.00 to C$172.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Scotiabank upped their price objective on shares of Loblaw Companies from C$146.00 to C$148.27 and gave the company a “sector perform” rating in a report on Monday, April 22nd. National Bankshares upped their price objective on shares of Loblaw Companies from C$153.00 to C$156.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Finally, CIBC dropped their price objective on shares of Loblaw Companies from C$150.00 to C$149.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Loblaw Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of C$155.32.

Insider Buying and Selling

In other Loblaw Companies news, Senior Officer Kieran Barry Columb sold 10,000 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of C$150.00, for a total value of C$1,500,000.00. In other news, Senior Officer Robert Wayne Wiebe sold 16,583 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of C$150.00, for a total transaction of C$2,487,450.00. Also, Senior Officer Kieran Barry Columb sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of C$150.00, for a total transaction of C$1,500,000.00. Insiders have sold 71,495 shares of company stock worth $10,547,163 in the last quarter. Insiders own 52.69% of the company’s stock.

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.