Loblaw Companies (TSE:L) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Loblaw Companies Limited (TSE:L)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$165.63 and traded as high as C$179.15. Loblaw Companies shares last traded at C$176.04, with a volume of 378,297 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on L shares. Desjardins lifted their price objective 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. TD Securities lifted their price objective 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. CIBC lifted their price objective on shares of Loblaw Companies from C$171.00 to C$189.00 in a research report on Friday, July 26th. National Bankshares lifted their price objective on shares of Loblaw Companies from C$175.00 to C$188.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, BMO Capital Markets lifted their price objective on shares of Loblaw Companies from C$160.00 to C$180.00 in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$178.29.

Loblaw Companies Trading Down 1.8 %

The company has a debt-to-equity ratio of 163.32, a current ratio of 1.36 and a quick ratio of 0.68. The business’s 50 day moving average price is C$175.82 and its 200-day moving average price is C$165.63. The firm has a market capitalization of C$53.76 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17.

Loblaw Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, October 1st were given a dividend of $0.513 per share. The ex-dividend date was Friday, September 13th. This represents a $2.05 annualized dividend and a yield of 1.17%. Loblaw Companies’s payout ratio is currently 31.06%.

Insiders Place Their Bets

In other Loblaw Companies news, Director Willard Galen Garfield Weston sold 296 shares of the company’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, Senior Officer Nicholas Henn sold 164 shares of the firm’s 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 transaction of C$27,084.39. Also, Director Willard Galen Garfield Weston sold 296 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$48,884.02. 53.77% of the stock is currently owned by company 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.