Insider Selling: Loblaw Companies Limited Director Sells Shares

On December 18th, 2023, Christie James Beckett Clark, a director at Loblaw Companies Limited (TSE:L - Get Free Report), executed a transaction involving the sale of 2,105 shares of the company’s stock. The shares were sold at an average price of C$189.69, culminating in a total transaction value of C$399,297.45.

Recent Trading Activity

Following this insider sale, the stock of Loblaw Companies experienced a slight decline of 0.6%, dropping C$1.23 during trading hours on Wednesday, to reach C$190.91. The trading volume for the day was 504,072 shares, surpassing the average volume of 357,247 shares. Over the past year, the shares have shown a wide range, with a 52-week low of C$119.99 and a high of C$196.49. Financial indicators for the company include a quick ratio of 0.68, a current ratio of 1.36, and a notably high debt-to-equity ratio of 163.32. The stock has been performing well, boasting a 50-day moving average price of C$181.78 and a 200-day moving average price of C$172.89. Overall, Loblaw Companies Limited has a market capitalization of C$58.30 billion, a price-to-earnings ratio of 28.93, a price-to-earnings-growth ratio of 3.23, and a beta of 0.17.

Dividend Announcement

Recently, Loblaw Companies announced a quarterly dividend that is set to be paid on December 30th, 2023. Stockholders on record by that date will receive a dividend of $0.513 per share, which translates to an annualized dividend of $2.05 and a dividend yield of 1.07%. The ex-dividend date for this payment is December 13th, and the company's current dividend payout ratio is 31.06%.

Analyst Perspectives

Equity analysts have been actively reviewing shares of Loblaw Companies, with several adjustments to their target prices. TD Securities revised their target price down to C$202.00 with a “buy” rating on November 14th. Meanwhile, the Royal Bank of Canada increased their price target from C$205.00 to C$217.00, offering an “outperform” rating on December 9th. Desjardins also raised their price objective to C$190.00. National Bankshares has likewise adjusted their target from C$188.00 to C$195.00. In addition, UBS Group set a price target of C$225.00 on December 13th, maintaining a “buy” rating. The consensus among analysts includes two hold ratings and five buy ratings, resulting in a general recommendation of “Moderate Buy” with a consensus price target of C$197.00, according to MarketBeat data.

About Loblaw Companies

Loblaw Companies Limited is recognized as one of Canada's leading grocery, pharmacy, and general merchandise retailers, with a significant presence in Ontario as well as in provinces such as Quebec and British Columbia. The company operates under various grocery brands, including Loblaw, No Frills, and Maxi, and significantly expanded its pharmaceutical operations through the acquisition of Shoppers Drug Mart in 2014.

Insider, Selling, Stock