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

Loblaw Companies Limited (TSE:L) shares 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.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Royal Bank of Canada boosted their price target 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. National Bankshares upped their target price on Loblaw Companies from C$188.00 to C$195.00 in a report on Thursday, November 14th. TD Securities dropped their target price on Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating for the company in a report on Thursday, November 14th. UBS Group set a C$225.00 target price on Loblaw Companies and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Desjardins upped their target price on Loblaw Companies from C$172.00 to C$190.00 in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Loblaw Companies currently has an average rating of “Moderate Buy” and a consensus target price of C$201.88.

Loblaw Companies Trading Up 0.7 %

The company has a 50 day moving average of C$186.45 and a 200-day moving average of C$177.14. The company has a debt-to-equity ratio of 163.32, a quick ratio of 0.68 and a current ratio of 1.36. The stock has a market cap of C$54.24 billion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17.

Loblaw Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 30th were given a $0.513 dividend. This represents a $2.05 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Friday, December 13th. Loblaw Companies’s dividend payout ratio is currently 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 stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of C$189.69, for a total value of C$399,297.45. 53.77% of the stock is 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.