Loblaw Companies (TSE:L) Share Price Crosses 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$182.14 and traded as high as C$190.41. Loblaw Companies shares last traded at C$190.03, with a volume of 506,661 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. UBS Group lowered their price target on shares of Loblaw Companies from C$225.00 to C$210.00 in a report on Friday, February 21st. Royal Bank of Canada lifted their target price 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. TD Securities reduced their price target on Loblaw Companies from C$202.00 to C$195.00 and set a “buy” rating for the company in a report on Friday, February 21st. Scotiabank downgraded Loblaw Companies from an “outperform” rating to a “sector perform” rating and set a C$200.00 price objective on the stock. in a report on Wednesday, January 8th. Finally, CIBC increased their target price on Loblaw Companies from C$206.00 to C$208.00 in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$199.38.

Loblaw Companies Trading Up 1.0 %

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 firm has a 50-day moving average price of C$183.17 and a 200-day moving average price of C$182.19. The company has a market capitalization of C$58.05 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 3.23 and a beta of 0.17.

Loblaw Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st will be issued a $0.513 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.05 annualized dividend and a dividend yield of 1.07%. Loblaw Companies’s dividend payout ratio is currently 27.83%.

Insider Buying and Selling

In related news, Director Willard Galen Garfield Weston sold 104,364 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of C$182.50, for a total value of C$19,046,690.91. Also, Director Richard Dufresne sold 25,783 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of C$186.55, for a total transaction of C$4,809,847.01. Insiders have sold 141,456 shares of company stock worth $25,966,244 in the last three months. 53.77% of the stock is currently owned by insiders.

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.