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

Loblaw Companies Limited (TSE:L) declared a quarterly dividend on Friday, December 13th,RTT News reports. Shareholders of record on Monday, December 30th will be paid a dividend of 0.513 per share on Monday, December 30th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, December 13th.

Loblaw Companies Stock Performance

Loblaw Companies stock opened at C$192.40 on Wednesday. The stock has a fifty day moving average price of C$179.61 and a 200 day moving average price of C$171.28. Loblaw Companies has a 52 week low of C$118.02 and a 52 week high of C$194.21. The firm has a market capitalization of C$58.76 billion, a P/E ratio of 29.15, a PEG ratio of 3.23 and a beta of 0.17. The company has a current ratio of 1.36, a quick ratio of 0.68 and a debt-to-equity ratio of 163.32.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. CIBC increased their price target on shares of Loblaw Companies from C$189.00 to C$206.00 in a research note on Thursday, November 14th. Desjardins increased their target price on Loblaw Companies from C$172.00 to C$190.00 in a research report on Thursday, November 14th. Royal Bank of Canada boosted their price target on Loblaw Companies from C$205.00 to C$217.00 and gave the company an “outperform” rating in a research report on Monday. TD Securities cut their price objective on Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Finally, National Bankshares lifted their price objective on Loblaw Companies from C$188.00 to C$195.00 in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Loblaw Companies currently has an average rating of “Moderate Buy” and an average price target of C$193.00.

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.