Loblaw Companies (TSE:L) Price Target Raised to C$171.00

Loblaw Companies (TSE:L) had its target price increased by CIBC from C$159.00 to C$171.00 in a research note published on Thursday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other equities research analysts have also issued reports on L. Scotiabank raised their price target on shares of Loblaw Companies from C$146.00 to C$148.27 and gave the stock a sector perform rating in a report on Monday, April 22nd. Desjardins boosted their price target on Loblaw Companies from C$148.00 to C$157.00 and gave the company a hold rating in a report on Monday. BMO Capital Markets upped their price target on Loblaw Companies from C$130.00 to C$145.00 in a research report on Friday, February 23rd. TD Securities boosted their target price on Loblaw Companies from C$150.00 to C$160.00 and gave the company a buy rating in a research note on Friday, February 23rd. Finally, Royal Bank of Canada raised their price target on Loblaw Companies from C$170.00 to C$172.00 and gave the stock an outperform rating in a research note on Wednesday, January 24th. 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, Loblaw Companies presently has an average rating of Moderate Buy and a consensus price target of C$162.43.

Loblaw Companies Trading Down 0.4 %

L stock traded down C$0.68 during trading on Thursday, hitting C$153.93. 236,889 shares of the company traded hands, compared to its average volume of 362,227. The company has a 50-day moving average of C$149.29 and a 200-day moving average of C$133.72. The company has a debt-to-equity ratio of 156.41, a quick ratio of 0.68 and a current ratio of 1.25. Loblaw Companies has a 1 year low of C$110.52 and a 1 year high of C$155.22. The firm has a market capitalization of C$47.60 billion, a PE ratio of 23.61, a P/E/G ratio of 2.53 and a beta of 0.12.

Loblaw Companies (TSE:L) last released its quarterly earnings data on Thursday, February 22nd. The company reported C$2.00 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.92 by C$0.08. Loblaw Companies had a return on equity of 18.96% and a net margin of 3.53%. The firm had revenue of C$14.53 billion during the quarter, compared to analyst estimates of C$14.58 billion. Analysts predict that Loblaw Companies will post 8.4881297 earnings per share for the current fiscal year.

Loblaw Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Saturday, June 15th will be given a dividend of $0.513 per share. The ex-dividend date is Friday, June 14th. This is a positive change from Loblaw Companies’s previous quarterly dividend of $0.45. This represents a $2.05 annualized dividend and a dividend yield of 1.33%. Loblaw Companies’s payout ratio is currently 27.30%.

Insiders Place Their Bets

In related news, Senior Officer Jeffrey Francis Leger sold 10,000 shares of Loblaw Companies stock in a transaction dated Monday, February 26th. The shares were sold at an average price of C$146.00, for a total transaction of C$1,460,000.00. In related news, Senior Officer Jeffrey Francis Leger sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of C$146.00, for a total value of C$1,460,000.00. Also, Senior Officer Robert Wayne Wiebe sold 16,583 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of C$150.00, for a total value of C$2,487,450.00. Over the last 90 days, insiders sold 71,495 shares of company stock worth $10,547,163. 52.69% of the stock is 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.