Loblaw Companies (TSE:L) Hits New 1-Year High at $24.00

Shares of Loblaw Companies Limited (TSE:L - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$24.00 and last traded at C$173.03, with a volume of 70632 shares trading hands. The stock had previously closed at C$173.19.

Wall Street Analyst Weigh In

L has been the topic of several recent analyst reports. CIBC raised their price objective on Loblaw Companies from C$171.00 to C$189.00 in a research note on Friday, July 26th. National Bankshares raised their price target on shares of Loblaw Companies from C$159.00 to C$175.00 and gave the company an "outperform" rating in a research report on Friday, July 26th. Scotiabank upped their price objective on shares of Loblaw Companies from C$148.27 to C$161.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 2nd. BMO Capital Markets increased their price objective on shares of Loblaw Companies from C$160.00 to C$180.00 in a research note on Friday, July 26th. Finally, TD Securities boosted their target price on Loblaw Companies from C$172.00 to C$186.00 and gave the stock a "buy" rating in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of C$176.43.

Loblaw Companies Stock Down 0.1 %

The company has a fifty day moving average price of C$165.43 and a 200 day moving average price of C$155.87. The company has a market cap of C$52.84 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 2.53 and a beta of 0.17. The company has a debt-to-equity ratio of 163.32, a current ratio of 1.36 and a quick ratio of 0.68.

Loblaw Companies (TSE:L - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported C$2.15 earnings per share for the quarter, beating analysts' consensus estimates of C$2.14 by C$0.01. The business had revenue of C$13.95 billion for the quarter, compared to the consensus estimate of C$14.07 billion. Loblaw Companies had a return on equity of 19.22% and a net margin of 3.46%. As a group, analysts anticipate that Loblaw Companies Limited will post 8.5147929 EPS for the current year.

Loblaw Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Sunday, September 15th will be given a $0.513 dividend. This represents a $2.05 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Friday, September 13th. Loblaw Companies's payout ratio is presently 31.01%.

Insider Activity

In other Loblaw Companies news, Director Willard Galen Garfield Weston sold 296 shares of the business's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of C$165.15, for a total value of C$48,884.02. In other news, Director Willard Galen Garfield Weston sold 296 shares of the company's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of C$165.15, for a total transaction of C$48,884.02. Also, Senior Officer Nicholas Henn sold 164 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of C$165.15, for a total value of C$27,084.39. Over the last three months, insiders have sold 38,460 shares of company stock valued at $6,037,349. 53.39% of the stock is currently owned by insiders.

About Loblaw Companies

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy and healthcare services, health and beauty products, apparels, general merchandise, financial services, and wireless mobile products and services in Canada. It operates in two segments, Retail and Financial Services. The Retail segment operates corporate and franchise-owned retail food, and associate-owned drug stores.

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