Loblaw Companies (TSE:L) Reaches New 52-Week High – Time to Buy?

Loblaw Companies Limited (TSE:L)’s share price hit a new 52-week high on Monday . The stock traded as high as C$203.39 and last traded at C$201.35, with a volume of 215149 shares. The stock had previously closed at C$198.30.

Analysts Set New Price Targets

A number of research firms have recently issued reports on L. CIBC lifted their target price on shares of Loblaw Companies from C$206.00 to C$208.00 in a research note on Friday, February 21st. Royal Bank of Canada boosted their price objective on Loblaw Companies from C$205.00 to C$217.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. TD Securities cut 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. UBS Group dropped their target price on shares of Loblaw Companies from C$225.00 to C$210.00 in a research note on Friday, February 21st. Finally, Scotiabank cut shares of Loblaw Companies from an “outperform” rating to a “sector perform” rating and set a C$200.00 price target on the stock. in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Loblaw Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of C$199.38.

Loblaw Companies Trading Up 2.3 %

The company has a market capitalization of C$61.33 billion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 3.23 and a beta of 0.17. The company has a debt-to-equity ratio of 166.11, a quick ratio of 0.68 and a current ratio of 1.29. The business’s 50-day simple moving average is C$185.01 and its 200-day simple moving average is C$183.06.

Loblaw Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 yield of 1.01%. Loblaw Companies’s dividend payout ratio is currently 27.83%.

Insiders Place Their Bets

In related news, Senior Officer Kieran Barry Columb sold 11,309 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of C$186.55, for a total value of C$2,109,706.39. Also, Director Richard Dufresne sold 25,783 shares of the business’s stock in a transaction that occurred 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. In the last 90 days, insiders sold 141,456 shares of company stock valued at $25,966,244. Company 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.