Loblaw Companies (TSE:L) Stock Price Breaks Below 200-Day Moving Average – What’s Next?

Shares of Loblaw Companies Limited (TSE:L) crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of C$62.93 and traded as low as C$61.70. Loblaw Companies shares last traded at C$62.16, with a volume of 1,147,214 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. National Bank Financial set a C$70.00 price objective on Loblaw Companies and gave the company an “outperform” rating in a report on Thursday, September 10th. TD set a C$75.00 price target on shares of Loblaw Companies and gave the company a “buy” rating in a research note on Thursday, September 10th. BMO Capital Markets upped their target price on shares of Loblaw Companies from C$70.00 to C$73.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Scotia lifted their price objective on shares of Loblaw Companies from C$64.00 to C$67.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Finally, Desjardins upped their target price on Loblaw Companies from C$70.00 to C$72.00 and gave the company a “buy” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$71.44.

Loblaw Companies Trading Down 0.0%

The company has a quick ratio of 0.68, a current ratio of 1.06 and a debt-to-equity ratio of 151.15. The firm has a market capitalization of C$71.83 billion, a P/E ratio of 26.34, a PEG ratio of 3.23 and a beta of 0.06. The firm has a 50 day moving average of C$62.57 and a 200-day moving average of C$62.93.

Loblaw Companies (TSE:L) last posted its quarterly earnings data on Thursday, July 30th. The company reported C$0.66 EPS for the quarter. The firm had revenue of C$15.05 billion for the quarter. Loblaw Companies had a return on equity of 25.25% and a net margin of 4.32%. On average, equities research analysts predict that Loblaw Companies Limited will post 9.1225541 earnings per share for the current fiscal year.

Loblaw Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, October 1st were given a $0.1552 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $0.62 annualized dividend and a dividend yield of 1.0%. Loblaw Companies’s payout ratio is presently 24.51%.

Insider Transactions at Loblaw Companies

In other Loblaw Companies news, insider David Markwell sold 56,240 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of C$62.07, for a total transaction of C$3,490,816.80. Also, insider Per Bank sold 39,762 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of C$62.01, for a total value of C$2,465,641.62. Following the sale, the insider owned 203,623 shares of the company’s stock, valued at C$12,626,662.23. The trade was a 16.34% decrease in their ownership of the stock. In the last 90 days, insiders sold 324,121 shares of company stock valued at $20,118,530. Company insiders own 53.77% of the company’s stock.

About Loblaw Companies

Loblaw is Canada’s food and pharmacy leader, and the nation’s largest retailer. Loblaw provides Canadians with grocery, pharmacy, health and beauty, apparel, general merchandise, financial services and wireless mobile products and services. With more than 2,800 corporate franchised and Associate-owned locations, Loblaw, its franchisees and Associate-owners employ more than 220,000 full- and part-time employees, making it one of Canada’s largest private sector employers. Loblaw’s purpose – Live Life Well® – puts first the needs and well-being of Canadians who make one billion transactions annually in the company’s stores.