Loblaw Companies (TSE:L) Sets New 52-Week High – Should You Buy?

Shares of Loblaw Companies Limited (TSE:L) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$212.90 and last traded at C$211.60, with a volume of 44429 shares changing hands. The stock had previously closed at C$210.62.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. National Bankshares upped their target price on Loblaw Companies from C$192.00 to C$207.00 in a research report on Thursday, April 10th. Royal Bank of Canada boosted their price objective on Loblaw Companies from C$215.00 to C$234.00 in a report on Monday. Scotiabank raised shares of Loblaw Companies from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$190.00 to C$215.00 in a report on Friday, April 11th. CIBC increased their target price on Loblaw Companies from C$206.00 to C$208.00 in a research report on Friday, February 21st. Finally, TD Securities reduced their target price 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. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$204.88.

Loblaw Companies Trading Up 0.2 %

The business has a 50 day moving average of C$191.97 and a 200-day moving average of C$185.92. The stock has a market cap of C$64.61 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st were given a dividend of $0.513 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.05 dividend on an annualized basis and a yield of 0.96%. Loblaw Companies’s dividend payout ratio (DPR) is 27.83%.

Insider Buying and Selling at Loblaw Companies

In related news, Director Willard Galen Garfield Weston sold 104,364 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of C$182.50, for a total transaction of C$19,046,690.91. Also, Director Richard Dufresne sold 25,783 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of C$186.55, for a total value of C$4,809,847.01. Insiders have sold a total of 141,456 shares of company stock valued at $25,966,244 in the last three months. Corporate 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.