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

Loblaw Companies Limited (TSE:L) declared a quarterly dividend on Friday, March 14th, TickerTech Dividends reports. Investors of record on Tuesday, April 1st will be paid a dividend of 0.513 per share on Tuesday, April 1st. This represents a $2.05 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Friday, March 14th.

Loblaw Companies Stock Performance

TSE L traded down C$3.18 during midday trading on Wednesday, hitting C$183.53. The company had a trading volume of 113,530 shares, compared to its average volume of 387,864. The firm has a fifty day simple moving average of C$183.28 and a two-hundred day simple moving average of C$181.58. The stock has a market cap of C$55.49 billion, a price-to-earnings ratio of 24.91, a P/E/G ratio of 3.23 and a beta of 0.17. The company has a quick ratio of 0.68, a current ratio of 1.29 and a debt-to-equity ratio of 166.11. Loblaw Companies has a fifty-two week low of C$145.80 and a fifty-two week high of C$196.49.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on L shares. UBS Group cut their target price on Loblaw Companies from C$225.00 to C$210.00 in a research note on Friday, February 21st. National Bankshares raised their price objective on shares of Loblaw Companies from C$188.00 to C$195.00 in a report on Thursday, November 14th. Royal Bank of Canada upped their target price on shares of Loblaw Companies from C$205.00 to C$217.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Scotiabank cut shares of Loblaw Companies from an “outperform” rating to a “sector perform” rating and set a C$200.00 price target for the company. in a research note on Wednesday, January 8th. Finally, CIBC upped their price objective on Loblaw Companies from C$206.00 to C$208.00 in a research note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$199.38.

Insider Transactions at Loblaw Companies

In related news, Director Willard Galen Garfield Weston sold 104,364 shares of the company’s stock in a transaction dated 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 Christie James Beckett Clark sold 2,105 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of C$189.69, for a total transaction of C$399,297.45. Over the last 90 days, insiders sold 143,561 shares of company stock valued at $26,365,542. 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.