Loblaw Companies (TSE:L) Upgraded by Scotiabank to Outperform Rating

Scotiabank upgraded shares of Loblaw Companies (TSE:L) from a sector perform rating to an outperform rating in a research note published on Friday morning,BayStreet.CA reports. The firm currently has C$215.00 target price on the stock, up from their prior target price of C$190.00.

Other equities research analysts have also issued reports about the stock. CIBC boosted their price objective on shares of Loblaw Companies from C$206.00 to C$208.00 in a report on Friday, February 21st. National Bankshares boosted their price target on shares of Loblaw Companies from C$192.00 to C$207.00 in a research note on Thursday. UBS Group cut their price target on shares of Loblaw Companies from C$225.00 to C$210.00 in a research report on Friday, February 21st. Finally, TD Securities decreased their price objective on Loblaw Companies from C$202.00 to C$195.00 and set a “buy” rating on the stock in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$202.75.

Loblaw Companies Stock Performance

Shares of TSE L opened at C$205.25 on Friday. The stock has a market cap of C$62.06 billion, a price-to-earnings ratio of 27.86, a P/E/G ratio of 3.23 and a beta of 0.17. The stock’s 50-day moving average is C$189.34 and its 200 day moving average is C$185.10. The company has a current ratio of 1.29, a quick ratio of 0.68 and a debt-to-equity ratio of 166.11. Loblaw Companies has a 1-year low of C$145.80 and a 1-year high of C$212.01.

Loblaw Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st were given a $0.513 dividend. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, March 14th. Loblaw Companies’s payout ratio is 27.83%.

Insider Transactions at Loblaw Companies

In other Loblaw Companies news, Director Willard Galen Garfield Weston sold 104,364 shares of the company’s stock in a transaction 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 Loblaw Companies stock in a transaction dated 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. Over the last ninety days, insiders sold 141,456 shares of company stock worth $25,966,244. Company insiders own 53.77% of the company’s stock.

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.