Loblaw Companies (TSE:L) Reaches New 52-Week High Following Analyst Upgrade

Loblaw Companies Limited (TSE:L - Get Free Report) hit a new 52-week high during trading on Tuesday after BMO Capital Markets raised their price target on the stock from C$180.00 to C$200.00. The stock traded as high as C$216.40 and last traded at C$215.43, with a volume of 272701 shares changing hands. The stock had previously closed at C$213.68.

A number of other analysts have also issued reports on L. National Bankshares raised their target price on Loblaw Companies from C$192.00 to C$207.00 in a report on Thursday, April 10th. CIBC raised their price target on shares of Loblaw Companies from C$206.00 to C$208.00 in a research report on Friday, February 21st. Royal Bank of Canada upped their price objective on shares of Loblaw Companies from C$215.00 to C$234.00 in a research report on Monday, April 14th. UBS Group reduced their target price on shares of Loblaw Companies from C$225.00 to C$210.00 in a research note on Friday, February 21st. Finally, Scotiabank upgraded Loblaw Companies from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from C$190.00 to C$215.00 in a research note on Friday, April 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$207.38.

Insider Buying and Selling at Loblaw Companies

In related news, Senior Officer Kieran Barry Columb sold 11,309 shares of Loblaw Companies stock in a transaction on Monday, March 3rd. The stock was sold at an average price of C$186.55, for a total transaction of C$2,109,706.39. Also, Director Richard Dufresne sold 25,783 shares of the business's stock in a transaction dated 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. In the last three months, insiders have sold 141,456 shares of company stock worth $25,966,244. Company insiders own 53.77% of the company's stock.

Loblaw Companies Stock Performance

The stock has a market capitalization of C$65.19 billion, a price-to-earnings ratio of 29.26, a P/E/G ratio of 3.23 and a beta of 0.17. The company's fifty day simple moving average is C$194.90 and its 200 day simple moving average is C$187.01. The company has a quick ratio of 0.68, a current ratio of 1.29 and a debt-to-equity ratio of 166.11.

Loblaw Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st were issued a dividend of $0.513 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.05 annualized dividend and a yield of 0.95%. Loblaw Companies's payout ratio is currently 27.83%.

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.