Loblaw Companies (TSE:L) Downgraded to Sector Perform Rating by Scotiabank

Scotiabank downgraded shares of Loblaw Companies (TSE:L - Free Report) from an outperform rating to a sector perform rating in a report issued on Wednesday,BayStreet.CA reports. The firm currently has C$200.00 price target on the stock.

Several other research firms have also issued reports on L. UBS Group set a C$225.00 price objective on Loblaw Companies and gave the company a "buy" rating in a research note on Friday, December 13th. CIBC raised their price objective on Loblaw Companies from C$189.00 to C$206.00 in a report on Thursday, November 14th. Desjardins boosted their price objective on shares of Loblaw Companies from C$172.00 to C$190.00 in a report on Thursday, November 14th. Royal Bank of Canada increased 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 report on Monday, December 9th. Finally, TD Securities lowered their price target on shares of Loblaw Companies from C$203.00 to C$202.00 and set a "buy" rating for the company in a research note on Thursday, November 14th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Loblaw Companies currently has a consensus rating of "Moderate Buy" and an average price target of C$201.88.

Loblaw Companies Stock Performance

Shares of TSE:L traded down C$4.52 during midday trading on Wednesday, reaching C$184.00. 348,697 shares of the company traded hands, compared to its average volume of 300,977. The firm's fifty day moving average price is C$186.10 and its two-hundred day moving average price is C$176.26. The firm has a market capitalization of C$56.19 billion, a price-to-earnings ratio of 27.88, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. The company has a quick ratio of 0.68, a current ratio of 1.36 and a debt-to-equity ratio of 163.32. Loblaw Companies has a 12 month low of C$126.15 and a 12 month high of C$196.49.

Loblaw Companies Announces Dividend

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

Insider Activity

In other Loblaw Companies news, Director Christie James Beckett Clark sold 2,105 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of C$189.69, for a total transaction of C$399,297.45. Insiders own 53.77% of the company's stock.

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.