Loblaw Companies (TSE:L) Share Price Crosses Below Two Hundred Day Moving Average - Here's What Happened

Loblaw Companies Limited (TSE:L - Get Free Report)'s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$179.33 and traded as low as C$177.34. Loblaw Companies shares last traded at C$178.15, with a volume of 570,863 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on L shares. National Bankshares boosted their target price on Loblaw Companies from C$188.00 to C$195.00 in a research note on Thursday, November 14th. Desjardins boosted their price objective on shares of Loblaw Companies from C$172.00 to C$190.00 in a research report on Thursday, November 14th. Royal Bank of Canada upped 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. UBS Group set a C$225.00 price target on shares of Loblaw Companies and gave the stock a "buy" rating in a research note on Friday, December 13th. Finally, Scotiabank downgraded shares of Loblaw Companies from an "outperform" rating to a "sector perform" rating and set a C$200.00 price objective for the company. in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$201.88.

Loblaw Companies Trading Down 0.9 %

The firm has a market cap of C$53.93 billion, a PE ratio of 24.21, a PEG ratio of 3.23 and a beta of 0.17. The company has a debt-to-equity ratio of 166.11, a current ratio of 1.29 and a quick ratio of 0.68. The business has a 50-day moving average price of C$186.02 and a two-hundred day moving average price of C$179.54.

Loblaw Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 30th were given a $0.513 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $2.05 annualized dividend and a dividend yield of 1.15%. Loblaw Companies's dividend payout ratio is currently 27.83%.

Insider Activity at Loblaw Companies

In related 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 shares were sold at an average price of C$189.69, for a total transaction of C$399,297.45. 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.