Loblaw Companies (TSE:L) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Loblaw Companies Limited (TSE:L)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$177.14 and traded as high as C$178.64. Loblaw Companies shares last traded at C$177.62, with a volume of 310,818 shares changing hands.

Analyst Upgrades and Downgrades

L has been the subject of a number of research analyst reports. National Bankshares upped their price target on shares of Loblaw Companies from C$188.00 to C$195.00 in a research note on Thursday, November 14th. CIBC upped their target price on Loblaw Companies from C$189.00 to C$206.00 in a research report on Thursday, November 14th. UBS Group set a C$225.00 price target on Loblaw Companies and gave the company a “buy” rating in a research report on Friday, December 13th. TD Securities cut their price objective on Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, Royal Bank of Canada lifted their target price 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Loblaw Companies currently has a consensus rating of “Moderate Buy” and an average target price of C$201.88.

Loblaw Companies Stock Up 0.9 %

The company has a market capitalization of C$55.39 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. The company has a quick ratio of 0.68, a current ratio of 1.36 and a debt-to-equity ratio of 163.32. The business has a 50-day moving average price of C$186.20 and a 200-day moving average price of C$177.29.

Loblaw Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 30th were paid a dividend of $0.513 per share. This represents a $2.05 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Friday, December 13th. Loblaw Companies’s dividend payout ratio is presently 31.06%.

Insiders Place Their Bets

In other news, Director Christie James Beckett Clark sold 2,105 shares of Loblaw Companies stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of C$189.69, for a total transaction of C$399,297.45. 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.