Insider Selling: Loblaw Companies Limited Director Sells Shares

On December 18th, Christie James Beckett Clark, a director at Loblaw Companies Limited (TSE:L - Get Free Report), sold a total of 2,105 shares of the company.

The shares were sold at an average price of C$189.69, resulting in a total transaction value of C$399,297.45.

Loblaw Companies Stock Performance

On the day of the transaction, Loblaw's stock saw a decrease of 0.6%, closing at C$190.91. During this period, approximately 504,072 shares were exchanged, which is higher than the company’s average trading volume of 357,247 shares.

The stock has shown volatility over the past year, with a 52-week range between C$119.99 and a high of C$196.49. Key financial metrics for Loblaw include a quick ratio of 0.68 and a current ratio of 1.36, while the company maintains a robust market capitalization of C$58.30 billion.

Dividend Announcement

Loblaw Companies recently declared a quarterly dividend of C$0.513 per share, to be distributed on December 30th. This dividend translates to an annualized rate of approximately C$2.05, providing a dividend yield of about 1.07%. The ex-dividend date was set for December 13th. Currently, Loblaw’s dividend payout ratio stands at 31.06%.

Analyst Insights

Several equity analysts have recently published their evaluations of Loblaw’s stock performance. TD Securities lowered its target price from C$203.00 to C$202.00 but maintains a “buy” rating. On the other hand, Royal Bank of Canada raised its target price from C$205.00 to C$217.00 while recommending an “outperform” rating. Other notable adjustments include Desjardins increasing its price target to C$190.00 and National Bankshares adjusting theirs to C$195.00. Overall, the stock has received two hold ratings and five buy ratings, resulting in a consensus of a “Moderate Buy” status with an average price target of C$197.00 according to MarketBeat.com.

About Loblaw Companies Limited

Loblaw is recognized as one of Canada’s largest retailers, specializing in grocery, pharmacy, and general merchandise. The company boasts an extensive store network, particularly in Ontario, with significant operations in Quebec and British Columbia. Prominent grocery brands under Loblaw include Loblaw, No Frills, and Maxi, complemented by pharmaceutical services following the acquisition of Shoppers Drug Mart in 2014.

Investors and analysts continue to keep a close eye on Loblaw Companies due to its influence in Canada's retail landscape.

Loblaw, Stocks, Insider