The latest announcement is out from Loblaw Companies ( (TSE:L) ).
Loblaw Companies Limited has initiated an automatic share purchase plan (ASPP) to facilitate the repurchase of its common shares under its normal course issuer bid (NCIB), which allows for the purchase of up to 5% of its outstanding shares. This move is designed to enable share repurchases during periods when the company is restricted from market activity due to insider trading rules, potentially impacting its stock liquidity and shareholder value.
More about Loblaw Companies
Loblaw Companies Limited is Canada’s leading food and pharmacy retailer, offering a wide range of products and services including grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products. With over 2,500 locations and more than 220,000 employees, Loblaw is one of Canada’s largest private sector employers, committed to serving Canadians with its diverse retail offerings and top consumer brands.
YTD Price Performance: 1.31%
Average Trading Volume: 6,445
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $38.98B
For a thorough assessment of L stock, go to TipRanks’ Stock Analysis page.