Loblaw Companies (TSE:L) Reaches New 1-Year High - Here's Why

Shares of Loblaw Companies Limited (TSE:L - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as C$212.90 and last traded at C$211.60, with a volume of 44429 shares. The stock had previously closed at C$210.62.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on L. UBS Group dropped their price target on Loblaw Companies from C$225.00 to C$210.00 in a research note on Friday, February 21st. Scotiabank raised shares of Loblaw Companies from a "sector perform" rating to an "outperform" rating and upped their price target for the company from C$190.00 to C$215.00 in a research note on Friday, April 11th. Royal Bank of Canada upped their target price on shares of Loblaw Companies from C$215.00 to C$234.00 in a research report on Monday, April 14th. BMO Capital Markets upped their price objective on Loblaw Companies from C$180.00 to C$200.00 in a research report on Monday. Finally, National Bankshares boosted their target price on Loblaw Companies from C$192.00 to C$207.00 in a research report on Thursday, April 10th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of C$207.38.

Loblaw Companies Price Performance

The stock's 50 day moving average price is C$192.69 and its 200-day moving average price is C$186.31. The company has a quick ratio of 0.68, a current ratio of 1.29 and a debt-to-equity ratio of 166.11. The stock has a market capitalization of C$65.14 billion, a PE ratio of 29.24, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17.

Loblaw Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st were given a dividend of $0.513 per share. This represents a $2.05 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Friday, March 14th. Loblaw Companies's dividend payout ratio (DPR) is presently 27.83%.

Insider Buying and Selling at Loblaw Companies

In other Loblaw Companies news, Director Richard Dufresne sold 25,783 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of C$186.55, for a total value of C$4,809,847.01. Also, Senior Officer Kieran Barry Columb sold 11,309 shares of the company's 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$2,109,706.39. In the last quarter, insiders have sold 141,456 shares of company stock valued at $25,966,244. Company 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.