Insider Selling: Loblaw Companies Limited Director Sells 2,105 Shares

On December 18th, 2023, Loblaw Companies Limited (TSE:L) saw a significant insider transaction when Director Christie James Beckett Clark sold 2,105 shares of the company's stock. The shares were sold at an average price of C$189.69 each, leading to a total transaction value of C$399,297.45. This sale highlights ongoing activity among company insiders and their confidence in the stock's future performance.

Loblaw Companies Stock Performance

On the same day of the stock sale, Loblaw's shares experienced a slight decline of 0.6%. The stock traded at C$190.91, down by C$1.23. In total, 504,072 shares were traded that day, which is higher than the average trading volume of 357,247 shares. Loblaw Companies Limited has fluctuated between a 52-week low of C$119.99 and a 52-week high of C$196.49. The company's financial metrics show a quick ratio of 0.68, a current ratio of 1.36, and a debt-to-equity ratio of 163.32. Investors can also note that Loblaw's stock has a market capitalization of approximately C$58.30 billion and a price-to-earnings (P/E) ratio of 28.93, along with a price-to-earnings-growth (PEG) ratio of 3.23.

Dividend Announcement

Additionally, Loblaw Companies recently declared a quarterly dividend of $0.513 per share, set to be paid on December 30th for shareholders on record by that date. This dividend represents an annualized total of $2.05, equating to a dividend yield of 1.07%. The ex-dividend date was December 13th, and the company's dividend payout ratio stands at 31.06%.

Analyst Ratings and Future Outlook

Equity analysts have been active in assessing Loblaw's stock. Recently, TD Securities adjusted their target price down from C$203.00 to C$202.00, maintaining a "buy" rating. Conversely, Royal Bank of Canada raised their target from C$205.00 to C$217.00 and classified the stock as "outperform" in their report. Other analysts from Desjardins and National Bankshares also increased their respective price targets, reflecting an optimistic sentiment towards Loblaw Companies. Overall, the consensus rating for the company stands at "Moderate Buy" with a target price averaging C$197.00 according to MarketBeat.com.

About Loblaw Companies Limited

Loblaw is one of Canada's leading grocery, pharmacy, and general merchandise retailers. The company boasts a vast store presence, predominantly in Ontario but also across provinces like Quebec and British Columbia. They operate major grocery brands such as Loblaw, No Frills, and Maxi, along with their pharmaceutical segment stemming from the acquisition of Shoppers Drug Mart in 2014.

Insider, Selling, Stocks