Loblaw Companies (TSE:L) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Loblaw Companies Limited (TSE:L) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$173.97 and traded as high as C$191.53. Loblaw Companies shares last traded at C$191.07, with a volume of 51,189 shares changing hands.

Analyst Upgrades and Downgrades

L has been the topic of several recent research reports. Royal Bank of Canada lifted their target price on Loblaw Companies from C$205.00 to C$217.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. UBS Group set a C$225.00 price objective on Loblaw Companies and gave the stock a “buy” rating in a research note on Friday, December 13th. National Bankshares increased their target price on shares of Loblaw Companies from C$188.00 to C$195.00 in a research report on Thursday, November 14th. TD Securities dropped their price target on shares of Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Finally, Desjardins increased their price objective on shares of Loblaw Companies from C$172.00 to C$190.00 in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$197.00.

Loblaw Companies Price Performance

The stock has a market capitalization of C$58.35 billion, a P/E ratio of 28.95, a PEG ratio of 3.23 and a beta of 0.17. The company has a debt-to-equity ratio of 163.32, a quick ratio of 0.68 and a current ratio of 1.36. The business has a fifty day simple moving average of C$183.72 and a 200-day simple moving average of C$174.30.

Loblaw Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 30th will be paid a dividend of $0.513 per share. This represents a $2.05 annualized dividend and a yield of 1.07%. The ex-dividend date is Friday, December 13th. Loblaw Companies’s dividend payout ratio is presently 31.06%.

Insider Buying and Selling at Loblaw Companies

In other Loblaw Companies news, Director Christie James Beckett Clark sold 2,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of C$189.69, for a total value of C$399,297.45. 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.