Maple Leaf Foods (TSE:MFI) Hits New 52-Week High - Here's Why

Maple Leaf Foods Inc. (TSE:MFI - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as C$28.90 and last traded at C$28.74, with a volume of 37358 shares traded. The stock had previously closed at C$28.65.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MFI. TD Securities boosted their price target on Maple Leaf Foods from C$34.00 to C$38.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Scotiabank upgraded Maple Leaf Foods to a "hold" rating in a research report on Tuesday, April 1st. Finally, Stifel Canada upgraded Maple Leaf Foods to a "strong-buy" rating in a research report on Monday, June 2nd. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of C$31.80.

Maple Leaf Foods Trading Up 0.3%

The company has a current ratio of 1.26, a quick ratio of 0.54 and a debt-to-equity ratio of 130.19. The company has a fifty day simple moving average of C$27.22 and a 200-day simple moving average of C$24.41. The company has a market capitalization of C$3.60 billion, a PE ratio of 106.10, a PEG ratio of 18.07 and a beta of 0.47.

Maple Leaf Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 30th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.34%. The ex-dividend date was Friday, June 6th. Maple Leaf Foods's dividend payout ratio (DPR) is presently 324.76%.

Insider Activity at Maple Leaf Foods

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

About Maple Leaf Foods

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.