Loblaw Companies (TSE:L) Insider Sells C$321,590.40 in Stock

Loblaw Companies Limited (TSE:L) insider Melanie Singh sold 4,820 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of C$66.72, for a total value of C$321,590.40.

Loblaw Companies Stock Down 2.5%

L stock traded down C$1.68 during trading hours on Friday, reaching C$65.00. 1,266,398 shares of the stock were exchanged, compared to its average volume of 1,367,591. The firm’s 50-day moving average is C$62.41 and its 200-day moving average is C$62.91. The company has a market cap of C$75.65 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 3.23 and a beta of 0.15. The company has a debt-to-equity ratio of 153.41, a current ratio of 1.09 and a quick ratio of 0.68. Loblaw Companies Limited has a 12 month low of C$52.92 and a 12 month high of C$69.59.

Loblaw Companies (TSE:L) last released its earnings results on Wednesday, May 6th. The company reported C$0.52 earnings per share (EPS) for the quarter. The firm had revenue of C$14.48 billion during the quarter. Loblaw Companies had a return on equity of 24.88% and a net margin of 4.29%. On average, equities research analysts expect that Loblaw Companies Limited will post 9.1225541 earnings per share for the current year.

Loblaw Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, July 1st will be issued a $0.1552 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, June 15th. This is a positive change from Loblaw Companies’s previous quarterly dividend of $0.14. Loblaw Companies’s dividend payout ratio is 24.53%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on L. BMO Capital Markets raised their price objective on Loblaw Companies from C$63.00 to C$68.00 and gave the company a “market perform” rating in a report on Monday, February 23rd. Canadian Imperial Bank of Commerce decreased their price objective on Loblaw Companies from C$75.00 to C$69.00 in a report on Thursday, May 7th. Scotia decreased their price objective on Loblaw Companies from C$70.00 to C$64.00 and set a “sector perform” rating for the company in a report on Thursday, May 7th. Desjardins raised their price objective on Loblaw Companies from C$67.00 to C$70.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, TD Securities raised their price objective on Loblaw Companies from C$65.00 to C$75.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Loblaw Companies presently has a consensus rating of “Moderate Buy” and an average price target of C$69.25.

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. The firm carries a robust private-label assortment, with top sellers like President’s Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.