Loblaw Companies Limited (TSE:L) increases dividend to $0.51 per share

Loblaw Companies Limited (TSE:L – Get Free Report) declared a quarterly dividend on Wednesday, May 1, Zacks reports. Shareholders of record on Saturday, June 15 will receive a dividend of 0.513 per share on Monday, July 1. This represents a dividend of $2.05 annually and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, June 14. This is a positive change from Loblaw Companies’ previous quarterly dividend of $0.45.

Loblaw Companies Price Performance

Shares of L stock rose C$1.23 during trading hours on Thursday, reaching C$154.07. The company had a trading volume of 15,862 shares, compared to the average volume of 360,437. Loblaw Companies has a 12-month low of $110.52 and a 12-month high of $154.70. The company has a market capitalization of C$47.65 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 2.53 and a beta of 0.12. The company’s fifty-day moving average is $149.05 and its 200-day moving average is $133.58. The company has a debt-to-equity ratio of 156.41, a quick ratio of 0.68 and a current ratio of 1.25.

Loblaw Companies (TSE:L – Get Free Report) published its latest quarterly results on Thursday, February 22. The company reported earnings per share of €2.00 for the quarter, beating analysts’ consensus expectations of €1.92 by €0.08. The company had revenue of C$14.53 billion for the quarter, compared to the consensus estimate of C$14.58 billion. Loblaw Companies had a return on equity of 18.96% and a net margin of 3.53%. On average, sell-side analysts predict that Loblaw Companies will post earnings per share of 8.4881297 for the current fiscal year.

Wall Street analysts weigh in

Several analysts have recently commented on L stock. Scotiabank raised their target price on Loblaw Companies from C$146.00 to C$148.27 and gave the stock a “sector perform” rating in a research note on Monday, April 22. TD Securities raised their price objective on Loblaw Companies from C$150.00 to C$160.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. CIBC lowered their price objective on Loblaw Companies from C$150.00 to C$149.00 and set an “outperform” rating for the stock in a research note on Friday, February 23rd. Desjardins raised his price target for Loblaw Companies from $148.00 to $157.00 and gave the stock a “hold” rating in a report on Monday. Finally, National Bankshares raised their price target on Loblaw Companies from C$153.00 to C$156.00 and gave the stock an “outperform” rating in a report on Monday, April 15. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $155.32.

Check out our latest research report on L

Insider activity

In other Loblaw Companies news, Director Willard Galen Garfield Weston sold 13,354 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of C$145.84, for a total transaction of C$1,947,558.04. In other Loblaw Companies news, Director Willard Galen Garfield Weston sold 13,354 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of C$145.84, for a total transaction of C$1,947,558.04. Also, Senior Officer Robert Wayne Wiebe sold 16,583 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of C$150.00, for a total transaction of C$2,487,450.00. Over the last ninety days, insiders have sold 71,495 company shares worth $10,547,163. Corporate insiders own 52.69% of the company’s shares.

About Loblaw Companies

(Get a free report)

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy and healthcare services, health and beauty products, apparel, general merchandise, financial services and wireless mobile products and services in Canada. It operates in two segments: retail and financial services. The Retail segment operates corporate and franchise-owned food retailers and affiliated-owned drugstores.

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