CIBC Forecasts Strong Price Appreciation for Maple Leaf Foods (TSE:MFI) Stock

Maple Leaf Foods (TSE:MFI - Free Report) had its price target hoisted by CIBC from C$32.00 to C$38.00 in a research note released on Wednesday,BayStreet.CA reports.

MFI has been the topic of several other reports. TD Securities boosted their price target on shares of Maple Leaf Foods from C$38.00 to C$41.00 and gave the company a "buy" rating in a report on Tuesday. Stifel Canada upgraded shares of Maple Leaf Foods to a "strong-buy" rating in a report on Monday, June 2nd. Finally, Scotiabank upgraded shares of Maple Leaf Foods to a "hold" rating in a report on Tuesday, April 1st. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Maple Leaf Foods currently has an average rating of "Buy" and an average price target of C$33.60.

Maple Leaf Foods Trading Up 0.1%

TSE MFI traded up C$0.03 on Wednesday, hitting C$30.37. 109,882 shares of the stock were exchanged, compared to its average volume of 209,765. Maple Leaf Foods has a 52-week low of C$19.61 and a 52-week high of C$30.70. The company has a debt-to-equity ratio of 130.19, a current ratio of 1.26 and a quick ratio of 0.54. The company has a market capitalization of C$3.80 billion, a price-to-earnings ratio of 112.08, a P/E/G ratio of 18.07 and a beta of 0.47. The company's 50-day moving average price is C$28.03 and its two-hundred day moving average price is C$24.95.

Maple Leaf Foods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 30th were given a dividend of $0.24 per share. The ex-dividend date was Friday, June 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.16%. Maple Leaf Foods's dividend payout ratio is 324.76%.

Insider Buying and Selling at Maple Leaf Foods

In other Maple Leaf Foods news, Senior Officer Olajumoke Fagbemi sold 3,600 shares of Maple Leaf Foods stock in a transaction on Friday, May 16th. The shares were sold at an average price of C$26.33, for a total value of C$94,788.00. Following the sale, the insider directly owned 28 shares in the company, valued at approximately C$737.24. The trade was a 99.23% decrease in their position. 39.87% of the stock is currently owned by corporate insiders.

Maple Leaf Foods Company Profile

Maple Leaf Foods Inc is a consumer-packaged meats company. It produces prepared meats and meals, fresh pork, and poultry and turkey products. The company also has agribusiness operations. These operations supply livestock to the meat products business operations. Its main markets are Canada, the United States, Japan, and China.