Loblaw Companies (TSE:L) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Loblaw Companies Limited (TSE:L) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$63.19 and traded as high as C$64.48. Loblaw Companies shares last traded at C$62.87, with a volume of 2,959,524 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on L. Scotiabank cut shares of Loblaw Companies from an “outperform” rating to a “hold” rating and set a C$70.00 price objective on the stock. in a research note on Thursday, April 9th. Canadian Imperial Bank of Commerce reduced their target price on shares of Loblaw Companies from C$75.00 to C$69.00 in a report on Thursday, May 7th. Finally, Scotia reduced their target price on shares of 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. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$69.25.

Loblaw Companies Stock Performance

The firm has a market capitalization of C$72.68 billion, a PE ratio of 27.15, a P/E/G 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. The firm has a fifty day moving average price of C$62.88 and a 200 day moving average price of C$63.19.

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

Loblaw Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, July 1st were paid a $0.1552 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.62 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Loblaw Companies’s previous quarterly dividend of $0.14. Loblaw Companies’s dividend payout ratio (DPR) is 24.53%.

Insider Activity at Loblaw Companies

In other news, insider Melanie Singh sold 4,820 shares of Loblaw Companies stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of C$66.72, for a total transaction of C$321,590.40. Also, Director Nicholas Henn sold 10,000 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of C$67.00, for a total value of C$670,000.00. Insiders own 53.77% of the company’s stock.

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.