Loblaw Companies (TSE:L) Share Price Passes Above Two Hundred Day Moving Average Following Insider Selling

Loblaw Companies Limited (TSE:L) passed above its 200-day moving average during trading on Monday following insider buying activity. The stock has a 200-day moving average of C$192.69 and traded as high as C$219.86. Loblaw Companies shares last traded at C$219.61, with a volume of 384,986 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Scotiabank lifted their target price on shares of Loblaw Companies from C$215.00 to C$245.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. TD Securities lifted their price objective on shares of Loblaw Companies from C$195.00 to C$245.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. BMO Capital Markets lifted their price objective on shares of Loblaw Companies from C$200.00 to C$220.00 in a research note on Thursday, May 1st. National Bankshares lifted their price objective on shares of Loblaw Companies from C$207.00 to C$234.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Finally, Royal Bank of Canada lifted their price objective on shares of Loblaw Companies from C$215.00 to C$234.00 in a research note on Monday, April 14th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$236.88.

Loblaw Companies Stock Performance

The company has a quick ratio of 0.68, a current ratio of 1.29 and a debt-to-equity ratio of 166.11. The firm has a market capitalization of C$66.40 billion, a P/E ratio of 29.81, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. The company’s 50 day moving average is C$207.61 and its 200-day moving average is C$192.69.

Loblaw Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.513 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.05 annualized dividend and a yield of 0.93%. Loblaw Companies’s payout ratio is 27.83%.

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.