Loblaw Companies (TSE:L) Reaches New 52-Week High - What's Next?

Loblaw Companies Limited (TSE:L - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as C$203.39 and last traded at C$201.35, with a volume of 215149 shares traded. The stock had previously closed at C$198.30.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. UBS Group dropped their price target on Loblaw Companies from C$225.00 to C$210.00 in a research report on Friday, February 21st. Royal Bank of Canada upped their target price on Loblaw Companies from C$205.00 to C$217.00 and gave the company an "outperform" rating in a report on Monday, December 9th. CIBC lifted their price target on Loblaw Companies from C$206.00 to C$208.00 in a report on Friday, February 21st. TD Securities cut their price objective on shares of Loblaw Companies from C$202.00 to C$195.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Finally, Scotiabank lowered shares of Loblaw Companies from an "outperform" rating to a "sector perform" rating and set a C$200.00 target price on the stock. in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of C$199.38.

Loblaw Companies Price Performance

The firm has a market capitalization of C$62.02 billion, a PE ratio of 27.84, a P/E/G ratio of 3.23 and a beta of 0.17. 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 company has a fifty day moving average price of C$186.72 and a two-hundred day moving average price of C$183.73.

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Loblaw Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st were issued a $0.513 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.00%. Loblaw Companies's payout ratio is 27.83%.

Insider Activity at Loblaw Companies

In other Loblaw Companies news, Director Richard Dufresne sold 25,783 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of C$186.55, for a total value of C$4,809,847.01. Also, Director Willard Galen Garfield Weston sold 104,364 shares of the business's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of C$182.50, for a total transaction of C$19,046,690.91. Insiders have sold 141,456 shares of company stock worth $25,966,244 in the last quarter. Company insiders own 53.77% of the company's stock.

About Loblaw Companies

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.