Loblaw Companies (TSE:L) Reaches New 1-Year High – What’s Next?

Loblaw Companies Limited (TSE:L)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$62.10 and last traded at C$62.17, with a volume of 600403 shares trading hands. The stock had previously closed at C$61.33.

Analysts Set New Price Targets

Several brokerages recently commented on L. TD Securities upped their target price on Loblaw Companies from C$63.00 to C$65.00 in a research report on Thursday, November 13th. National Bankshares boosted their price target on Loblaw Companies from C$60.00 to C$61.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. BMO Capital Markets increased their price target on Loblaw Companies from C$57.50 to C$63.00 in a report on Thursday, November 13th. Scotiabank lifted their price objective on shares of Loblaw Companies from C$61.00 to C$65.00 and gave the company an “outperform” rating in a research note on Thursday, August 21st. Finally, CIBC boosted their target price on shares of Loblaw Companies from C$58.50 to C$67.00 in a research report on Thursday, November 13th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$134.50.

Loblaw Companies Trading Up 1.4%

The firm has a market cap of C$74.45 billion, a price-to-earnings ratio of 30.78, a P/E/G ratio of 3.23 and a beta of 0.29. The firm’s 50-day moving average is C$56.62 and its 200-day moving average is C$143.73. The company has a current ratio of 1.29, a quick ratio of 0.68 and a debt-to-equity ratio of 166.11.

Loblaw Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.5643 per share. The ex-dividend date was Monday, September 15th. This represents a $2.26 dividend on an annualized basis and a yield of 3.6%. Loblaw Companies’s payout ratio is 26.31%.

Loblaw Companies Company Profile

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.