Loblaw Companies (TSE:L) Cut to Sector Perform at Scotiabank

Scotiabank cut shares of Loblaw Companies (TSE:L) from an outperform rating to a sector perform rating in a research report released on Wednesday, Marketbeat reports. Scotiabank currently has C$200.00 price objective on the stock.

A number of other research firms also recently commented on L. 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. TD Securities decreased their price target on Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. UBS Group set a C$225.00 price objective on Loblaw Companies and gave the stock a “buy” rating in a research note on Friday, December 13th. Royal Bank of Canada raised 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. Finally, Desjardins upped their price target on shares of Loblaw Companies from C$172.00 to C$190.00 in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$201.88.

Loblaw Companies Price Performance

Shares of L opened at C$182.93 on Wednesday. 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 has a twelve month low of C$127.17 and a twelve month high of C$196.49. The stock has a market capitalization of C$55.86 billion, a P/E ratio of 27.72, a P/E/G ratio of 3.23 and a beta of 0.17. The company has a 50 day moving average of C$186.47 and a 200-day moving average of C$176.57.

Loblaw Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 30th were paid 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 dividend yield of 1.12%. Loblaw Companies’s dividend payout ratio (DPR) is currently 31.06%.

Insider Activity at Loblaw Companies

In other news, Director Christie James Beckett Clark sold 2,105 shares of Loblaw Companies stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of C$189.69, for a total value of C$399,297.45. 53.77% of the stock is currently owned by corporate insiders.

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.