Loblaw Companies (TSE:L) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

Shares of Loblaw Companies Limited (TSE:L) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 traded.

Analyst Ratings Changes

Several research firms recently issued reports on L. Royal Bank of Canada upped their price target on shares of Loblaw Companies from C$205.00 to C$217.00 and gave the company an “outperform” rating in a report on Monday, December 9th. UBS Group set a C$225.00 price target on shares of Loblaw Companies and gave the stock a “buy” rating in a research report on Friday, December 13th. TD Securities lowered their price objective on Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Desjardins increased their target price on Loblaw Companies from C$172.00 to C$190.00 in a report on Thursday, November 14th. Finally, CIBC lifted their target price on Loblaw Companies from C$189.00 to C$206.00 in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$197.00.

Loblaw Companies Stock Down 0.4 %

The firm 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 firm’s 50-day moving average is C$183.72 and its 200 day moving average is C$174.30.

Loblaw Companies Announces Dividend

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 issued a dividend of $0.513 per share. This represents a $2.05 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Friday, December 13th. Loblaw Companies’s payout ratio is 31.06%.

Insiders Place Their Bets

In related news, Director Christie James Beckett Clark sold 2,105 shares of the 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. Company 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.