Loblaw Companies (TSE:L) Price Target Raised to C$217.00

Loblaw Companies (TSE:L) had its target price lifted by Royal Bank of Canada from C$205.00 to C$217.00 in a research note issued to investors on Monday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

L has been the subject of several other research reports. National Bankshares increased their target price on shares of Loblaw Companies from C$188.00 to C$195.00 in a research note on Thursday, November 14th. Desjardins increased their price target on shares of Loblaw Companies from C$172.00 to C$190.00 in a research report on Thursday, November 14th. TD Securities dropped their price objective on Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Finally, CIBC increased their price target on Loblaw Companies from C$189.00 to C$206.00 in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Loblaw Companies presently has a consensus rating of “Moderate Buy” and an average price target of C$193.00.

Loblaw Companies Stock Up 0.5 %

L stock opened at C$192.63 on Monday. The company has a 50-day moving average of C$179.61 and a two-hundred day moving average of C$171.28. Loblaw Companies has a 52-week low of C$118.02 and a 52-week high of C$193.77. The stock has a market capitalization of C$58.83 billion, a price-to-earnings ratio of 29.19, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. The company has a debt-to-equity ratio of 163.32, a current ratio of 1.36 and a quick ratio of 0.68.

Loblaw Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Sunday, December 15th will be issued a dividend of $0.513 per share. This represents a $2.05 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, December 13th. Loblaw Companies’s dividend payout ratio (DPR) is presently 31.06%.

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.