Loblaw Companies Limited (TSE:L) Announces $0.51 Quarterly Dividend

Loblaw Companies Limited (TSE:L) declared a quarterly dividend on Thursday, July 25th, Zacks reports. Stockholders of record on Sunday, September 15th will be paid a dividend of 0.513 per share on Tuesday, October 1st. This represents a $2.05 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Friday, September 13th.

Loblaw Companies Price Performance

Shares of TSE:L opened at C$168.30 on Friday. Loblaw Companies has a 12 month low of C$110.52 and a 12 month high of C$171.99. The firm has a market capitalization of C$51.74 billion, a P/E ratio of 25.46, a P/E/G ratio of 2.53 and a beta of 0.12. The company has a debt-to-equity ratio of 156.41, a current ratio of 1.25 and a quick ratio of 0.68. The company’s fifty day moving average price is C$160.46 and its 200 day moving average price is C$150.02.

Loblaw Companies (TSE:L) last announced its earnings results on Wednesday, May 1st. The company reported C$1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.70 by C$0.02. The firm had revenue of C$13.58 billion during the quarter, compared to analysts’ expectations of C$13.29 billion. Loblaw Companies had a return on equity of 18.96% and a net margin of 3.53%. As a group, sell-side analysts predict that Loblaw Companies will post 8.3923706 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

L has been the subject of a number of recent research reports. Scotiabank increased their price target on shares of Loblaw Companies from C$148.27 to C$161.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 2nd. CIBC increased their target price on shares of Loblaw Companies from C$159.00 to C$171.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Desjardins boosted their price target on Loblaw Companies from C$157.00 to C$172.00 and gave the company a “hold” rating in a research report on Tuesday. National Bankshares increased their price objective on Loblaw Companies from C$156.00 to C$159.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Finally, TD Securities lifted their price objective on shares of Loblaw Companies from C$172.00 to C$186.00 and gave the company a “buy” rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$166.57.

Insider Buying and Selling

In other news, Senior Officer Jeffrey Francis Leger sold 7,100 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of C$156.00, for a total transaction of C$1,107,600.00. In other news, Senior Officer Kieran Barry Columb sold 13,100 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of C$157.12, for a total transaction of C$2,058,249.73. Also, Senior Officer Jeffrey Francis Leger sold 7,100 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of C$156.00, for a total value of C$1,107,600.00. Over the last ninety days, insiders sold 83,929 shares of company stock valued at $13,160,644. 53.29% of the stock is owned by insiders.

Loblaw Companies Company Profile

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy and healthcare services, health and beauty products, apparels, general merchandise, financial services, and wireless mobile products and services in Canada. It operates in two segments, Retail and Financial Services. The Retail segment operates corporate and franchise-owned retail food, and associate-owned drug stores.