Loblaw Companies (TSE:L) Sets New 12-Month High Following Analyst Upgrade

Loblaw Companies Limited (TSE:L) reached a new 52-week high during mid-day trading on Thursday after BMO Capital Markets raised their price target on the stock from C$57.50 to C$63.00. The stock traded as high as C$59.86 and last traded at C$59.65, with a volume of 624575 shares changing hands. The stock had previously closed at C$58.62.

Other analysts also recently issued research reports about the company. CIBC boosted their price objective on Loblaw Companies from C$58.50 to C$67.00 in a report on Thursday. Desjardins boosted their price target on shares of Loblaw Companies from C$230.00 to C$235.00 and gave the company a “hold” rating in a report on Friday, July 25th. Royal Bank Of Canada upped their price target on shares of Loblaw Companies from C$234.00 to C$267.00 in a research report on Monday, July 21st. National Bankshares lifted their price objective on shares of Loblaw Companies from C$60.00 to C$61.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Scotiabank increased their target price on Loblaw Companies from C$61.00 to C$65.00 and gave the company an “outperform” rating in a report on Thursday, August 21st. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$134.50.

Loblaw Companies Trading Up 1.2%

The firm has a market capitalization of C$70.54 billion, a price-to-earnings ratio of 29.41, a price-to-earnings-growth ratio of 3.23 and a beta of 0.29. The company has a fifty day moving average price of C$55.94 and a 200-day moving average price of C$151.08. 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 announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Wednesday, October 1st were paid a $0.5643 dividend. The ex-dividend date was Monday, September 15th. This represents a $2.26 dividend on an annualized basis and a yield of 3.8%. Loblaw Companies’s payout ratio is 26.06%.

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.