Insider Selling: Loblaw Companies Ltd (L) Director Sells 250 Shares of Stock

Loblaw Companies Ltd (TSE:L) Director Richard Dufresne sold 250 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of C$66.50, for a total transaction of C$16,625.00.

Loblaw Companies Ltd (TSE L) traded up 0.22% during trading on Monday, reaching $66.86. 676,119 shares of the company’s stock traded hands. The stock has a market capitalization of $26.37 billion and a P/E ratio of 22.33. The company has a 50-day moving average of $67.12 and a 200 day moving average of $71.80. Loblaw Companies Ltd has a 12 month low of $62.33 and a 12 month high of $78.87.

Loblaw Companies (TSE:L) last issued its quarterly earnings results on Wednesday, July 26th. The company reported C$1.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$1.10 by C$0.01. Loblaw Companies had a net margin of 3.29% and a return on equity of 12.17%. The company had revenue of C$11.08 billion during the quarter, compared to the consensus estimate of C$10.96 billion. On average, equities research analysts expect that Loblaw Companies Ltd will post $4.44 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 15th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Thursday, September 14th.

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Several equities analysts have weighed in on L shares. Desjardins dropped their target price on shares of Loblaw Companies from C$85.00 to C$81.00 and set a “buy” rating for the company in a report on Thursday, June 22nd. TD Securities dropped their target price on shares of Loblaw Companies from C$88.00 to C$85.00 and set a “buy” rating for the company in a report on Tuesday, July 18th. Eight Capital dropped their target price on shares of Loblaw Companies from C$82.00 to C$78.00 in a report on Friday, July 21st. BMO Capital Markets dropped their target price on shares of Loblaw Companies from C$85.00 to C$82.00 and set an “outperform” rating for the company in a report on Thursday, July 27th. Finally, National Bank Financial dropped their target price on shares of Loblaw Companies from C$81.00 to C$78.00 and set an “outperform” rating for the company in a report on Thursday, July 27th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Loblaw Companies currently has a consensus rating of “Buy” and an average target price of C$81.00.

Loblaw Companies Company Profile

Loblaw Companies Limited is a Canada-based holding company. The Company operates through three segments: Retail, Financial Services and Choice Properties. The Company’s Retail segment consists of corporate and franchise-owned retail food and Associate-owned drug stores, and includes in-store pharmacies and other health and beauty products, gas bars, apparel and other general merchandise.

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