CIBC Issues Positive Forecast for Loblaw Companies (TSE:L) Stock Price

Loblaw Companies (TSE:L) had its price target upped by CIBC from C$206.00 to C$208.00 in a research note released on Friday,BayStreet.CA reports.

A number of other equities research analysts have also recently commented on L. Royal Bank of Canada increased their price target on 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. Desjardins increased their price target on Loblaw Companies from C$172.00 to C$190.00 in a research note on Thursday, November 14th. UBS Group set a C$225.00 price target on Loblaw Companies and gave the company a “buy” rating in a research note on Friday, December 13th. Scotiabank cut Loblaw Companies from an “outperform” rating to a “sector perform” rating and set a C$200.00 price target for the company. in a research note on Wednesday, January 8th. Finally, TD Securities cut their price objective on Loblaw Companies from C$202.00 to C$195.00 in a report on Friday. Two equities research 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 has a consensus rating of “Moderate Buy” and a consensus price target of C$199.38.

Loblaw Companies Trading Up 0.7 %

Loblaw Companies stock opened at C$175.89 on Friday. The stock has a 50-day moving average of C$184.16 and a two-hundred day moving average of C$179.84. The company has a debt-to-equity ratio of 166.11, a quick ratio of 0.68 and a current ratio of 1.29. Loblaw Companies has a one year low of C$138.13 and a one year high of C$196.49. The stock has a market cap of C$53.18 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17.

Loblaw Companies Dividend Announcement

The business also recently announced 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. This represents a $2.05 annualized dividend and a yield of 1.17%. The ex-dividend date was Friday, December 13th. Loblaw Companies’s dividend payout ratio (DPR) is 27.83%.

Insider Buying and Selling

In other Loblaw Companies news, Director Christie James Beckett Clark sold 2,105 shares of the stock in a transaction that occurred 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 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.