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

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 traded.

Analyst Ratings Changes

A number of analysts have weighed in on L shares. National Bankshares increased their price objective on Loblaw Companies from C$188.00 to C$195.00 in a research report on Thursday, November 14th. Scotiabank cut Loblaw Companies from an “outperform” rating to a “sector perform” rating and set a C$200.00 price objective for the company. in a research report on Wednesday, January 8th. Royal Bank of Canada increased their price objective on Loblaw Companies from C$205.00 to C$217.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. UBS Group set a C$225.00 price target on Loblaw Companies and gave the company a “buy” rating in a report on Friday, December 13th. Finally, CIBC raised their price target on Loblaw Companies from C$189.00 to C$206.00 in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$201.88.

Loblaw Companies Stock Performance

The firm has a fifty day moving average of C$186.45 and a 200-day moving average of C$177.14. The stock has a market capitalization of C$54.24 billion, a price-to-earnings ratio of 26.91, a PEG 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.

Loblaw Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 30th were issued a dividend of $0.513 per share. The ex-dividend date was Friday, December 13th. This represents a $2.05 annualized dividend and a yield of 1.16%. Loblaw Companies’s dividend payout ratio is presently 31.06%.

Insider Buying and Selling

In related 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. 53.77% of the stock is currently owned by insiders.

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.