Brokerages Set Loblaw Companies Ltd (L) PT at $78.22
Shares of Loblaw Companies Ltd (TSE:L) have received a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$78.22.
Several brokerages have issued reports on L. CIBC cut their price objective on Loblaw Companies from C$79.00 to C$78.00 in a research note on Thursday, May 3rd. Desjardins cut their price objective on Loblaw Companies from C$77.00 to C$76.00 in a research note on Thursday, May 3rd. Barclays upped their price objective on Loblaw Companies from C$71.00 to C$75.00 and gave the company a “c$69.40” rating in a research note on Monday, July 23rd. Raymond James upped their price objective on Loblaw Companies from C$82.00 to C$85.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Finally, National Bank Financial upped their price objective on Loblaw Companies from C$71.00 to C$72.00 and gave the company a “reduce” rating in a research note on Thursday, July 26th.
In other Loblaw Companies news, insider Kieran Barry Columb sold 21,523 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of C$69.06, for a total transaction of C$1,486,378.38. Also, Director Michael James Motz sold 10,000 shares of the stock in a transaction on Monday, June 11th. The shares were sold at an average price of C$65.63, for a total value of C$656,300.00. Insiders sold a total of 48,526 shares of company stock valued at $3,318,845 over the last three months.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Saturday, September 15th will be issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Thursday, September 13th.
Loblaw Companies Company Profile
Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy, health and beauty, apparel, general merchandise, credit card, insurance brokerage, gift card, and telecommunication services in Canada. It operates through three segments: Retail, Financial Services, and Choice Properties.
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