Insider Buying: Loblaw Companies Ltd (L) Director Purchases 2,000 Shares of Stock

Share on StockTwits

Loblaw Companies Ltd (TSE:L) Director Robert Sawyer purchased 2,000 shares of the firm’s stock in a transaction dated Thursday, September 6th. The stock was acquired at an average price of C$69.29 per share, for a total transaction of C$138,580.00.

L stock traded down C$0.33 during midday trading on Friday, reaching C$67.73. 459,244 shares of the stock were exchanged, compared to its average volume of 514,016. Loblaw Companies Ltd has a 52 week low of C$63.03 and a 52 week high of C$70.39.

Loblaw Companies (TSE:L) last issued its quarterly earnings data on Wednesday, July 25th. The company reported C$1.11 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.10 by C$0.01. The business had revenue of C$10.92 billion for the quarter, compared to analyst estimates of C$10.96 billion. Loblaw Companies had a return on equity of 0.73% and a net margin of 0.33%.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Saturday, September 15th will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.18 dividend on an annualized basis and a yield of 1.74%.

Several equities analysts have recently issued reports on L shares. CIBC lifted their price target on Loblaw Companies from C$81.00 to C$82.00 in a research note on Wednesday. Desjardins lifted their price target on Loblaw Companies from C$76.00 to C$77.00 in a research note on Thursday, July 26th. TD Securities lifted their price target on Loblaw Companies from C$81.00 to C$82.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. Barclays lifted their price target on Loblaw Companies from C$71.00 to C$75.00 and gave the company a “c$69.40” rating in a research note on Monday, July 23rd. Finally, Raymond James lifted their price target on Loblaw Companies from C$82.00 to C$85.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of C$78.44.

About Loblaw Companies

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.

See Also: Technical Analysis of Stocks, How Can It Help

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

Receive News & Ratings for Loblaw Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loblaw Companies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply