Loblaw Companies (TSE:L) Given New C$66.00 Price Target at National Bankshares

Loblaw Companies (TSE:L) had its price objective upped by National Bankshares from C$62.00 to C$66.00 in a report released on Wednesday morning,BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

Several other brokerages also recently issued reports on L. Desjardins raised shares of Loblaw Companies from a “hold” rating to a “buy” rating and upped their price objective for the company from C$62.00 to C$67.00 in a research note on Thursday, December 4th. CIBC increased their price target on Loblaw Companies from C$58.50 to C$67.00 in a research note on Thursday, November 13th. Royal Bank Of Canada raised their price objective on Loblaw Companies from C$68.00 to C$72.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. TD Securities lifted their price objective on Loblaw Companies from C$63.00 to C$65.00 in a research report on Thursday, November 13th. Finally, BMO Capital Markets increased their target price on Loblaw Companies from C$57.50 to C$63.00 in a research report on Thursday, November 13th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$89.75.

Loblaw Companies Trading Down 0.4%

Shares of L stock opened at C$61.37 on Wednesday. The company has a market capitalization of C$72.49 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 3.23 and a beta of 0.26. The company has a current ratio of 1.29, a quick ratio of 0.68 and a debt-to-equity ratio of 166.11. The firm has a 50-day moving average price of C$61.96 and a 200 day moving average price of C$88.88. Loblaw Companies has a twelve month low of C$43.32 and a twelve month high of C$63.44.

Loblaw Companies Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Tuesday, December 30th were given a $0.1411 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, December 15th. Loblaw Companies’s dividend payout ratio (DPR) is 26.31%.

Insider Transactions at Loblaw Companies

In other Loblaw Companies news, insider Kieran Barry Columb sold 40,800 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of C$59.50, for a total transaction of C$2,427,600.00. Following the completion of the sale, the insider owned 163,696 shares of the company’s stock, valued at approximately C$9,739,912. The trade was a 19.95% decrease in their ownership of the stock. Insiders sold a total of 102,044 shares of company stock worth $6,092,002 over the last ninety days. 53.77% of the stock is currently owned by insiders.

Loblaw Companies Company Profile

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.