Loblaw Companies (TSE:L) Hits New 12-Month High – Still a Buy?

Loblaw Companies Limited (TSE:L)’s stock price hit a new 52-week high on Tuesday . The company traded as high as C$196.20 and last traded at C$195.60, with a volume of 207042 shares traded. The stock had previously closed at C$192.73.

Analysts Set New Price Targets

Several research analysts have issued reports on L shares. Scotiabank downgraded shares of Loblaw Companies from an “outperform” rating to a “sector perform” rating and set a C$200.00 price objective on the stock. in a research report on Wednesday, January 8th. Royal Bank of Canada raised their price target on Loblaw Companies from C$205.00 to C$217.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. CIBC upped their price objective on Loblaw Companies from C$206.00 to C$208.00 in a research note on Friday, February 21st. UBS Group lowered their target price on Loblaw Companies from C$225.00 to C$210.00 in a research note on Friday, February 21st. Finally, TD Securities decreased their price target on Loblaw Companies from C$202.00 to C$195.00 and set a “buy” rating for the company in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$199.38.

Loblaw Companies Stock Up 1.8 %

The company has a debt-to-equity ratio of 166.11, a quick ratio of 0.68 and a current ratio of 1.29. The firm has a market capitalization of C$59.31 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 3.23 and a beta of 0.17. The firm has a fifty day moving average price of C$183.58 and a 200 day moving average price of C$182.47.

Loblaw Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.513 per share. The ex-dividend date is Friday, March 14th. This represents a $2.05 annualized dividend and a dividend yield of 1.05%. Loblaw Companies’s payout ratio is currently 27.83%.

Insider Buying and Selling

In other Loblaw Companies news, Director Willard Galen Garfield Weston sold 104,364 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of C$182.50, for a total transaction of C$19,046,690.91. Also, Director Richard Dufresne sold 25,783 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of C$186.55, for a total transaction of C$4,809,847.01. Over the last 90 days, insiders have sold 141,456 shares of company stock valued at $25,966,244. Corporate insiders own 53.77% of the company’s stock.

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.