Loblaw Companies (TSE:L) Reaches New 1-Year High Following Dividend Announcement

Loblaw Companies Limited (TSE:L) hit a new 52-week high on Thursday after the company announced a dividend. The stock traded as high as C$155.01 and last traded at C$154.37, with a volume of 116577 shares. The stock had previously closed at C$152.84.

The newly announced dividend which will be paid on Monday, July 1st. Stockholders of record on Saturday, June 15th will be paid a dividend of $0.513 per share. This represents a $2.05 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Friday, June 14th. This is a boost from Loblaw Companies’s previous quarterly dividend of $0.45. Loblaw Companies’s dividend payout ratio (DPR) is currently 27.30%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on L shares. Scotiabank boosted their price target on 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 shares of Loblaw Companies from C$148.00 to C$157.00 and gave the stock a “hold” rating in a research report on Monday. CIBC dropped their price objective on shares of Loblaw Companies from C$150.00 to C$149.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. Royal Bank of Canada increased their price target on Loblaw Companies from C$170.00 to C$172.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Finally, National Bankshares upped their target price on Loblaw Companies from C$153.00 to C$156.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Loblaw Companies has a consensus rating of “Moderate Buy” and a consensus price target of C$155.32.

Loblaw Companies Price Performance

The company has a debt-to-equity ratio of 156.41, a current ratio of 1.25 and a quick ratio of 0.68. The stock’s fifty day moving average is C$149.05 and its 200-day moving average is C$133.58. The stock has a market capitalization of C$47.77 billion, a PE ratio of 23.44, a P/E/G ratio of 2.53 and a beta of 0.12.

Loblaw Companies (TSE:L) last issued its quarterly earnings results on Thursday, February 22nd. The company reported C$2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.92 by C$0.08. The company had revenue of C$14.53 billion for the quarter, compared to the consensus estimate of C$14.58 billion. Loblaw Companies had a return on equity of 18.96% and a net margin of 3.53%. As a group, equities analysts predict that Loblaw Companies Limited will post 8.4881297 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Frank Gambioli sold 4,603 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of C$144.00, for a total transaction of C$662,832.00. In related news, Senior Officer Jeffrey Francis Leger sold 10,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of C$146.00, for a total value of C$1,460,000.00. Also, Senior Officer Frank Gambioli sold 4,603 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of C$144.00, for a total transaction of C$662,832.00. Over the last ninety days, insiders sold 71,495 shares of company stock worth $10,547,163. 52.69% of the stock is owned by corporate insiders.

Loblaw Companies Company Profile

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.