Loblaw Companies (TSE:L) Stock Rating Lowered by Scotiabank

Scotiabank cut shares of Loblaw Companies (TSE:L) from an outperform rating to a sector perform rating in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The firm currently has C$200.00 target price on the stock.

Several other research analysts also recently commented on L. National Bankshares boosted their target price on Loblaw Companies from C$188.00 to C$195.00 in a research note on Thursday, November 14th. TD Securities lowered their price objective on shares of Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Royal Bank of Canada raised their target price on shares of Loblaw Companies from C$205.00 to C$217.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Desjardins upped their price target on shares of Loblaw Companies from C$172.00 to C$190.00 in a report on Thursday, November 14th. Finally, UBS Group set a C$225.00 price objective on Loblaw Companies and gave the company a “buy” rating in a report on Friday, December 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Loblaw Companies presently has an average rating of “Moderate Buy” and an average price target of C$201.88.

Loblaw Companies Price Performance

Loblaw Companies stock opened at C$182.93 on Wednesday. The company has a debt-to-equity ratio of 163.32, a quick ratio of 0.68 and a current ratio of 1.36. Loblaw Companies has a 52 week low of C$127.17 and a 52 week high of C$196.49. The stock has a market capitalization of C$55.86 billion, a P/E ratio of 27.72, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. The stock has a fifty day moving average of C$186.47 and a 200-day moving average of C$176.57.

Loblaw Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 30th were paid a $0.513 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $2.05 annualized dividend and a dividend yield of 1.12%. Loblaw Companies’s dividend payout ratio is 31.06%.

Insider Activity at Loblaw Companies

In other news, Director Christie James Beckett Clark sold 2,105 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of C$189.69, for a total value of C$399,297.45. 53.77% of the stock is currently owned by company 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.