Insider Buying: Loblaw Companies Ltd (L) Director Buys 6,000 Shares of Stock

Loblaw Companies Ltd (TSE:L) Director William Downe bought 6,000 shares of the stock in a transaction dated Thursday, November 29th. The shares were bought at an average cost of C$60.85 per share, with a total value of C$365,100.00.

TSE:L traded down C$0.04 during mid-day trading on Friday, reaching C$61.29. The company’s stock had a trading volume of 759,800 shares, compared to its average volume of 657,920. Loblaw Companies Ltd has a 1 year low of C$50.22 and a 1 year high of C$61.82. The company has a quick ratio of 0.61, a current ratio of 1.19 and a debt-to-equity ratio of 123.99.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 30th. Investors of record on Sunday, December 30th will be paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, December 13th. Loblaw Companies’s dividend payout ratio (DPR) is presently 78.86%.

A number of research firms recently weighed in on L. TD Securities lowered their price objective on shares of Loblaw Companies from C$82.00 to C$69.00 in a research note on Friday, November 2nd. Royal Bank of Canada lowered their price objective on shares of Loblaw Companies from C$84.00 to C$73.00 and set an “outperform” rating for the company in a research note on Friday, November 2nd. National Bank Financial lowered their price objective on shares of Loblaw Companies from C$73.00 to C$59.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 7th. Raymond James lowered their price objective on shares of Loblaw Companies from C$85.00 to C$66.00 and set an “outperform” rating for the company in a research note on Wednesday, November 14th. Finally, Barclays lowered their price objective on shares of Loblaw Companies from C$75.00 to C$63.00 in a research note on Monday, November 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of C$68.22.

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Loblaw Companies Company Profile

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy, health and beauty, apparel, general merchandise, credit card, insurance brokerage, gift card, and telecommunication services in Canada. It operates through three segments: Retail, Financial Services, and Choice Properties.

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Insider Buying and Selling by Quarter for Loblaw Companies (TSE:L)

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