Loblaw Companies (TSE:L) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Loblaw Companies Limited (TSE:L) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$179.33 and traded as low as C$177.34. Loblaw Companies shares last traded at C$178.15, with a volume of 570,863 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on L. Royal Bank of Canada lifted their price objective on Loblaw Companies from C$205.00 to C$217.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. UBS Group set a C$225.00 price target on shares of Loblaw Companies and gave the company a “buy” rating in a research report on Friday, December 13th. CIBC raised their price objective on shares of Loblaw Companies from C$189.00 to C$206.00 in a research report on Thursday, November 14th. TD Securities reduced their target price on shares of Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Finally, National Bankshares increased their price target on shares of Loblaw Companies from C$188.00 to C$195.00 in a research note 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$201.88.

Loblaw Companies Price Performance

The firm has a market cap of C$54.41 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 3.23 and a beta of 0.17. The company has a debt-to-equity ratio of 163.32, a current ratio of 1.36 and a quick ratio of 0.68. The stock has a 50-day moving average price of C$186.73 and a 200 day moving average price of C$179.33.

Loblaw Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 30th were given a dividend of $0.513 per share. This represents a $2.05 annualized dividend and a yield of 1.15%. The ex-dividend date was Friday, December 13th. Loblaw Companies’s payout ratio is currently 31.06%.

Insider Activity

In other Loblaw Companies news, Director Christie James Beckett Clark sold 2,105 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of C$189.69, for a total value of C$399,297.45. Corporate insiders own 53.77% of the company’s stock.

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.