Loblaw Companies (TSE:L) Sets New 12-Month High After Dividend Announcement

Loblaw Companies Limited (TSE:L)’s share price reached a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The company traded as high as C$181.99 and last traded at C$181.42, with a volume of 4589 shares trading hands. The stock had previously closed at C$180.47.

The newly announced dividend which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, October 1st will be given a $0.513 dividend. This represents a $2.05 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Friday, September 13th. Loblaw Companies’s payout ratio is 31.06%.

Analyst Ratings Changes

L has been the topic of a number of research analyst reports. National Bankshares boosted their target price on shares of Loblaw Companies from C$159.00 to C$175.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. BMO Capital Markets boosted their target price on shares of Loblaw Companies from C$160.00 to C$180.00 in a research note on Friday, July 26th. TD Securities upped their price target on shares of Loblaw Companies from C$172.00 to C$186.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Desjardins increased 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 note on Tuesday, July 23rd. Finally, CIBC increased their price target on shares of Loblaw Companies from C$171.00 to C$189.00 in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$176.43.

Loblaw Companies Price Performance

The business’s 50 day moving average price is C$170.62 and its 200 day moving average price is C$159.67. The stock has a market capitalization of C$53.45 billion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 2.53 and a beta of 0.17. The company has a debt-to-equity ratio of 163.32, a current ratio of 1.36 and a quick ratio of 0.68.

Loblaw Companies (TSE:L) last announced its quarterly earnings data on Thursday, July 25th. The company reported C$2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.14 by C$0.01. Loblaw Companies had a net margin of 3.46% and a return on equity of 19.22%. The firm had revenue of C$13.95 billion during the quarter, compared to analysts’ expectations of C$14.07 billion. Sell-side analysts forecast that Loblaw Companies Limited will post 9.4554243 EPS for the current year.

Insider Transactions at Loblaw Companies

In other Loblaw Companies news, Director Willard Galen Garfield Weston sold 296 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of C$165.15, for a total transaction of C$48,884.02. In related news, Director Willard Galen Garfield Weston sold 296 shares of Loblaw Companies stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of C$165.15, for a total value of C$48,884.02. Also, Senior Officer Nicholas Henn sold 164 shares of Loblaw Companies stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of C$165.15, for a total transaction of C$27,084.39. Company insiders own 53.53% 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.