Loblaw Companies (TSE:L) Stock Passes Above 200-Day Moving Average – Time to Sell?

Loblaw Companies Limited (TSE:L)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$173.97 and traded as high as C$191.53. Loblaw Companies shares last traded at C$191.07, with a volume of 51,189 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. National Bankshares raised their price target on shares of Loblaw Companies from C$188.00 to C$195.00 in a report on Thursday, November 14th. Desjardins lifted their price objective on shares of Loblaw Companies from C$172.00 to C$190.00 in a research note on Thursday, November 14th. Royal Bank of Canada upped their target price on shares of 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. CIBC lifted their price target on shares of Loblaw Companies from C$189.00 to C$206.00 in a research report on Thursday, November 14th. Finally, TD Securities decreased their price target on shares of Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$197.00.

Loblaw Companies Price Performance

The company’s fifty day moving average is C$183.17 and its 200 day moving average is C$173.97. The company has a quick ratio of 0.68, a current ratio of 1.36 and a debt-to-equity ratio of 163.32. The firm has a market cap of C$58.35 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 3.23 and a beta of 0.17.

Loblaw Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 30th will be issued a dividend of $0.513 per share. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, December 13th. Loblaw Companies’s payout ratio is presently 31.06%.

Insider Activity

In other Loblaw Companies news, Director Christie James Beckett Clark sold 2,105 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of C$189.69, for a total value of C$399,297.45. Insiders own 53.77% of the company’s stock.

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.