Maple Leaf Foods (TSE:MFI) Price Target Raised to C$38.00

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.

Other analysts have also issued research reports about the company. Stifel Canada upgraded Maple Leaf Foods to a "strong-buy" rating in a research note on Monday, June 2nd. TD Securities increased their target price on Maple Leaf Foods from C$38.00 to C$41.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Scotiabank upgraded Maple Leaf Foods to a "hold" rating in a research note on Tuesday, April 1st. One equities 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 data from MarketBeat, Maple Leaf Foods has an average rating of "Buy" and an average target price of C$33.60.

Maple Leaf Foods Trading Up 0.4%

TSE:MFI traded up C$0.12 during midday trading on Wednesday, hitting C$30.34. 125,024 shares of the company traded hands, compared to its average volume of 210,494. The firm's fifty day moving average is C$27.96 and its 200-day moving average is C$24.88. Maple Leaf Foods has a 12-month low of C$19.61 and a 12-month high of C$30.70. The firm has a market capitalization of C$3.80 billion, a P/E ratio of 111.97, a P/E/G ratio of 18.07 and a beta of 0.47. The company has a current ratio of 1.26, a quick ratio of 0.54 and a debt-to-equity ratio of 130.19.

Maple Leaf Foods Announces Dividend

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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Friday, June 6th. Maple Leaf Foods's payout ratio is 324.76%.

Insider Activity

In other news, Senior Officer Olajumoke Fagbemi sold 3,600 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of C$26.33, for a total transaction of C$94,788.00. Following the transaction, the insider owned 28 shares of the company's stock, valued at approximately C$737.24. This represents a 99.23% decrease in their position. Insiders own 39.87% of the company's stock.

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.