Loblaw Companies (TSE:L) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Loblaw Companies Limited (TSE:L - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$162.25 and traded as high as C$175.09. Loblaw Companies shares last traded at C$174.28, with a volume of 286,811 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. TD Securities boosted their price target on shares of 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. Desjardins increased their target price on Loblaw Companies from C$157.00 to C$172.00 and gave the company a "hold" rating in a report on Tuesday, July 23rd. BMO Capital Markets lifted their price target on Loblaw Companies from C$160.00 to C$180.00 in a research note on Friday, July 26th. CIBC raised their price target on shares of Loblaw Companies from C$171.00 to C$189.00 in a report on Friday, July 26th. Finally, National Bankshares upped their price objective on shares of Loblaw Companies from C$159.00 to C$175.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of C$176.43.

Loblaw Companies Stock Up 0.6 %

The company has a quick ratio of 0.68, a current ratio of 1.36 and a debt-to-equity ratio of 163.32. The stock has a market cap of C$53.57 billion, a P/E ratio of 26.42, a P/E/G ratio of 2.53 and a beta of 0.17. The company's 50 day moving average price is C$173.09 and its two-hundred day moving average price is C$162.42.

Loblaw Companies (TSE:L - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The company reported C$2.15 EPS for the quarter, beating the consensus estimate of C$2.14 by C$0.01. Loblaw Companies had a return on equity of 19.22% and a net margin of 3.46%. The firm had revenue of C$13.95 billion for the quarter, compared to analyst estimates of C$14.07 billion. As a group, research analysts expect that Loblaw Companies Limited will post 9.3653445 earnings per share for the current year.

Loblaw Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, October 1st were given a dividend of $0.513 per share. This represents a $2.05 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Friday, September 13th. Loblaw Companies's payout ratio is 31.06%.

Insider Activity at Loblaw Companies

In other news, Director Willard Galen Garfield Weston sold 296 shares of the firm's stock in a transaction 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 related news, Director Willard Galen Garfield Weston sold 296 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of C$165.15, for a total value of C$48,884.02. Also, Senior Officer Nicholas Henn sold 164 shares of Loblaw Companies 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 transaction of C$27,084.39. 53.60% of the stock is currently owned by corporate 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.