Loblaw Companies (TSE:L) Upgraded by Scotiabank to “Strong-Buy” Rating

Scotiabank upgraded shares of Loblaw Companies (TSE:L) to a strong-buy rating in a research note published on Friday morning,Zacks.com reports.

L has been the topic of a number of other research reports. Royal Bank of Canada lifted their target price on shares of Loblaw Companies from C$205.00 to C$217.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Desjardins upped their price objective on Loblaw Companies from C$172.00 to C$190.00 in a research note on Thursday, November 14th. CIBC lifted their target price on Loblaw Companies from C$189.00 to C$206.00 in a research note on Thursday, November 14th. TD Securities lowered their price target on Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Finally, National Bankshares increased their price objective on shares of Loblaw Companies from C$188.00 to C$195.00 in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$197.00.

Loblaw Companies Price Performance

TSE L opened at C$191.14 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.68 and a debt-to-equity ratio of 163.32. Loblaw Companies has a 12 month low of C$125.66 and a 12 month high of C$196.49. The stock has a market cap of C$58.37 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 3.23 and a beta of 0.17. The company’s 50 day moving average is C$184.00 and its two-hundred day moving average is C$174.41.

Loblaw Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 30th will be issued a dividend of $0.513 per share. The ex-dividend date is Friday, December 13th. This represents a $2.05 annualized dividend and a dividend yield of 1.07%. Loblaw Companies’s dividend payout ratio (DPR) is 31.06%.

Insider Activity

In other Loblaw Companies news, Director Christie James Beckett Clark sold 2,105 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were 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.