Loblaw Companies (TSE:L) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

Loblaw Companies Limited (TSE:L)’s share price crossed 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 traded.

Analyst Ratings Changes

A number of research firms recently weighed in on L. CIBC lifted their price target on Loblaw Companies from C$189.00 to C$206.00 in a research note on Thursday, November 14th. UBS Group set a C$225.00 price objective on shares of Loblaw Companies and gave the stock a “buy” rating in a research report on Friday, December 13th. National Bankshares increased their price target on shares of Loblaw Companies from C$188.00 to C$195.00 in a research report on Thursday, November 14th. Desjardins raised their price target on Loblaw Companies from C$172.00 to C$190.00 in a research report on Thursday, November 14th. Finally, Royal Bank of Canada upped their price objective on Loblaw Companies from C$205.00 to C$217.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Loblaw Companies has an average rating of “Moderate Buy” and an average price target of C$197.00.

Loblaw Companies Trading Down 0.4 %

The company has a current ratio of 1.36, a quick ratio of 0.68 and a debt-to-equity ratio of 163.32. The firm has a market cap of C$58.35 billion, a PE ratio of 28.95, a P/E/G ratio of 3.23 and a beta of 0.17. The company’s 50-day moving average is C$183.17 and its 200 day moving average is C$173.97.

Loblaw Companies Dividend Announcement

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

Insider Activity

In related news, Director Christie James Beckett Clark sold 2,105 shares of Loblaw Companies 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. 53.77% of the stock is currently owned by corporate insiders.

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.