Loblaw Companies (TSE:L) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Loblaw Companies Limited (TSE:L)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 traded.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. TD Securities lowered their price objective on Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. National Bankshares increased their price objective on shares of Loblaw Companies from C$188.00 to C$195.00 in a research note on Thursday, November 14th. Scotiabank lowered shares of Loblaw Companies from an “outperform” rating to a “sector perform” rating and set a C$200.00 target price on the stock. in a research report on Wednesday, January 8th. CIBC increased their price target on shares of Loblaw Companies from C$189.00 to C$206.00 in a research report on Thursday, November 14th. Finally, UBS Group set a C$225.00 price target on shares of Loblaw Companies and gave the stock a “buy” rating in a research note on Friday, December 13th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Loblaw Companies has an average rating of “Moderate Buy” and a consensus price target of C$201.88.

Loblaw Companies Stock Performance

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 stock 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 stock’s 50-day simple moving average is C$186.20 and its 200 day simple moving average is C$177.29.

Loblaw Companies Dividend Announcement

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

Insider Buying and Selling at Loblaw Companies

In other Loblaw Companies news, Director Christie James Beckett Clark sold 2,105 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of C$189.69, for a total value of C$399,297.45. Corporate 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.