Loblaw Companies (TSE:L) Reaches New 52-Week High – Still a Buy?

Shares of Loblaw Companies Limited (TSE:L) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$64.50 and last traded at C$64.50, with a volume of 279902 shares traded. The stock had previously closed at C$62.92.

Analyst Upgrades and Downgrades

L has been the topic of several research reports. National Bankshares upped their target price on Loblaw Companies from C$62.00 to C$66.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. CIBC boosted their price target on Loblaw Companies from C$58.50 to C$67.00 in a research note on Thursday, November 13th. BMO Capital Markets increased their price objective on Loblaw Companies from C$57.50 to C$63.00 in a report on Thursday, November 13th. Royal Bank Of Canada lifted their target price on shares of Loblaw Companies from C$68.00 to C$72.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Finally, Desjardins raised shares of Loblaw Companies from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$62.00 to C$67.00 in a research report on Thursday, December 4th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$89.75.

Loblaw Companies Trading Up 3.7%

The company has a current ratio of 1.29, a quick ratio of 0.68 and a debt-to-equity ratio of 166.11. The company has a fifty day moving average of C$61.94 and a two-hundred day moving average of C$84.59. The stock has a market capitalization of C$77.06 billion, a price-to-earnings ratio of 31.86, a price-to-earnings-growth ratio of 3.23 and a beta of 0.26.

Loblaw Companies Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Tuesday, December 30th were paid a $0.1411 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.56 dividend on an annualized basis and a yield of 0.9%. Loblaw Companies’s dividend payout ratio (DPR) is presently 26.31%.

Insider Buying and Selling

In other Loblaw Companies news, insider Kieran Barry Columb sold 40,800 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of C$59.50, for a total transaction of C$2,427,600.00. Following the completion of the transaction, the insider owned 163,696 shares of the company’s stock, valued at C$9,739,912. The trade was a 19.95% decrease in their position. In the last quarter, insiders have sold 102,044 shares of company stock valued at $6,092,002. Company 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. The firm carries a robust private-label assortment, with top sellers like President’s Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.