Loblaw Companies (TSE:L) Shares Cross Above 200 Day Moving Average of $117.77

Shares of Loblaw Companies Limited (TSE:L) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$117.77 and traded as high as C$124.59. Loblaw Companies shares last traded at C$120.29, with a volume of 415,794 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. National Bankshares upped their target price on Loblaw Companies from C$140.00 to C$142.00 in a research report on Thursday, July 27th. Royal Bank of Canada reduced their target price on shares of Loblaw Companies from C$174.00 to C$170.00 and set an “outperform” rating for the company in a research note on Thursday. CIBC dropped their price target on shares of Loblaw Companies from C$152.00 to C$150.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Desjardins set a C$133.00 price objective on shares of Loblaw Companies and gave the company a “hold” rating in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Loblaw Companies presently has an average rating of “Moderate Buy” and a consensus target price of C$141.69.

Loblaw Companies Stock Down 0.9 %

The firm has a 50 day moving average of C$116.02 and a 200-day moving average of C$117.80. The company has a debt-to-equity ratio of 159.67, a current ratio of 1.36 and a quick ratio of 0.68. The stock has a market capitalization of C$38.52 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 1.66 and a beta of 0.09.

Loblaw Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Sunday, October 1st were paid a $0.446 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.78 dividend on an annualized basis and a yield of 1.47%. Loblaw Companies’s payout ratio is currently 28.94%.

Loblaw Companies Company Profile

Loblaw Companies Limited, a food and pharmacy company, engages in the grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products and services businesses 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.