Loblaw Companies (TSE:L) Reaches New 1-Year High After Analyst Upgrade

Shares of Loblaw Companies Limited (TSE:L) hit a new 52-week high on Tuesday after Royal Bank of Canada raised their price target on the stock from C$205.00 to C$217.00. Royal Bank of Canada currently has an outperform rating on the stock. Loblaw Companies traded as high as C$194.21 and last traded at C$193.85, with a volume of 40704 shares. The stock had previously closed at C$192.63.

Several other research analysts also recently commented on the stock. CIBC boosted their price objective on shares of Loblaw Companies from C$189.00 to C$206.00 in a research report on Thursday, November 14th. National Bankshares increased their price target on shares of Loblaw Companies from C$188.00 to C$195.00 in a report on Thursday, November 14th. Desjardins raised their price objective on shares of Loblaw Companies from C$172.00 to C$190.00 in a report on Thursday, November 14th. Finally, TD Securities cut their price target on shares of Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$193.00.

Loblaw Companies Stock Up 0.5 %

The company has a market capitalization of C$59.10 billion, a P/E ratio of 29.19, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. The firm’s fifty day moving average is C$179.61 and its 200-day moving average is C$171.28. The company has a debt-to-equity ratio of 163.32, a quick ratio of 0.68 and a current ratio of 1.36.

Loblaw Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Sunday, December 15th will be given a dividend of $0.513 per share. This represents a $2.05 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Friday, December 13th. Loblaw Companies’s payout ratio is currently 31.06%.

Loblaw Companies Company Profile

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.