Loblaw Companies (TSE:L) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Loblaw Companies Limited (TSE:L - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$181.58 and traded as high as C$193.11. Loblaw Companies shares last traded at C$186.71, with a volume of 535,464 shares trading hands.

Analysts Set New Price Targets

L has been the topic of several analyst reports. National Bankshares increased their price target on shares of Loblaw Companies from C$188.00 to C$195.00 in a research note on Thursday, November 14th. UBS Group dropped their price target on shares of Loblaw Companies from C$225.00 to C$210.00 in a research note on Friday, February 21st. TD Securities dropped their price target on shares of Loblaw Companies from C$202.00 to C$195.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Scotiabank lowered shares of Loblaw Companies from an "outperform" rating to a "sector perform" rating and set a C$200.00 price target on the stock. in a research note on Wednesday, January 8th. Finally, CIBC increased their price target on shares of Loblaw Companies from C$206.00 to C$208.00 in a research note on Friday, February 21st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Loblaw Companies has an average rating of "Moderate Buy" and a consensus target price of C$199.38.

Loblaw Companies Stock Down 3.2 %

The firm's 50 day moving average is C$183.28 and its two-hundred day moving average is C$181.58. The firm has a market cap of C$56.45 billion, a P/E ratio of 25.34, a price-to-earnings-growth 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.

Loblaw Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st will be paid a $0.513 dividend. This represents a $2.05 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Friday, March 14th. Loblaw Companies's payout ratio is currently 27.83%.

Insider Buying and Selling at Loblaw Companies

In other news, Senior Officer Kieran Barry Columb sold 11,309 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of C$186.55, for a total value of C$2,109,706.39. Also, Director Christie James Beckett Clark sold 2,105 shares of the business's stock in a transaction 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. Over the last quarter, insiders have sold 143,561 shares of company stock valued at $26,365,542. 53.77% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Remove Ads