Royal Bank of Canada Raises Loblaw Companies (TSE:L) Price Target to C$85.00

Loblaw Companies (TSE:L) had its price objective lifted by Royal Bank of Canada from C$82.00 to C$85.00 in a research report released on Thursday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. CIBC increased their price objective on shares of Loblaw Companies from C$76.00 to C$77.00 in a research report on Thursday, July 25th. BMO Capital Markets dropped their target price on shares of Loblaw Companies from C$83.00 to C$75.00 in a research report on Thursday, July 25th. Desjardins boosted their target price on shares of Loblaw Companies from C$70.00 to C$73.00 and gave the company a buy rating in a research report on Thursday, July 25th. Finally, TD Securities upped their price objective on shares of Loblaw Companies from C$75.00 to C$80.00 and gave the stock a buy rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of C$77.14.

Loblaw Companies stock traded up C$0.40 during trading hours on Thursday, hitting C$69.68. 814,900 shares of the stock were exchanged, compared to its average volume of 538,126. The company has a debt-to-equity ratio of 146.60, a quick ratio of 0.71 and a current ratio of 1.34. The stock has a market capitalization of $25.36 billion and a P/E ratio of 32.21. Loblaw Companies has a 12 month low of C$58.03 and a 12 month high of C$76.31. The business’s 50-day moving average is C$71.88 and its two-hundred day moving average is C$70.18.

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 $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Thursday, December 12th. Loblaw Companies’s payout ratio is currently 56.40%.

In other news, Senior Officer Sarah Ruth Davis sold 19,940 shares of Loblaw Companies stock in a transaction on Monday, August 19th. The stock was sold at an average price of C$72.50, for a total value of C$1,445,650.00. Following the completion of the sale, the insider now directly owns 1,477 shares of the company’s stock, valued at C$107,082.50. Also, Senior Officer Jocyanne C. Bourdeau sold 9,890 shares of Loblaw Companies stock in a transaction on Friday, September 6th. The shares were sold at an average price of C$74.50, for a total value of C$736,805.00. Insiders have sold 32,930 shares of company stock worth $2,408,048 over the last quarter.

Loblaw Companies Company Profile

Loblaw Companies Limited, a food and pharmacy company, engages in the grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products and services businesses in Canada. It operates in two segments, Retail and Financial Services. The Retail segment operates corporate and franchise-owned retail food, and associate-owned drug stores comprising in-store pharmacies, other health and beauty product stores, apparel stores, and other general merchandise stores, as well as supports the PC Optimum reward program.

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Analyst Recommendations for Loblaw Companies (TSE:L)

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