Maple Leaf Foods (TSE:MFI) Insider Olajumoke Fagbemi Acquires 2,651 Shares

Key Points

• Maple Leaf Foods insider Olajumoke Fagbemi acquired 2,651 shares at C$35.71 per share, increasing their ownership by 9,467.86%.
• The company declared a quarterly dividend of $0.24 per share, which will be paid on September 29th, contributing to a 2.7% annual dividend yield.
• Analysts have shown positive outlooks, with target prices ranging from C$38.00 to C$47.00, and a consensus rating of "Buy".

Maple Leaf Foods Inc. (TSE:MFI - Get Free Report) insider Olajumoke Fagbemi acquired 2,651 shares of the stock in a transaction dated Wednesday, August 27th. The shares were purchased at an average price of C$35.71 per share, for a total transaction of C$94,665.62. Following the completion of the purchase, the insider directly owned 2,679 shares in the company, valued at C$95,665.48. The trade was a 9,467.86% increase in their ownership of the stock.

Maple Leaf Foods Stock Performance

Shares of MFI stock traded up C$0.55 during midday trading on Tuesday, hitting C$35.52. 91,625 shares of the company were exchanged, compared to its average volume of 217,561. The firm has a market capitalization of C$4.40 billion, a P/E ratio of 24.67, a PEG ratio of 18.07 and a beta of 0.82. The company has a debt-to-equity ratio of 130.19, a quick ratio of 0.54 and a current ratio of 1.26. The firm's 50 day moving average price is C$32.00 and its two-hundred day moving average price is C$27.97. Maple Leaf Foods Inc. has a 52 week low of C$19.61 and a 52 week high of C$36.35.

Maple Leaf Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 29th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.96 annualized dividend and a dividend yield of 2.7%. Maple Leaf Foods's payout ratio is presently 63.89%.

Wall Street Analyst Weigh In

Several brokerages recently commented on MFI. TD Securities lifted their target price on shares of Maple Leaf Foods from C$42.00 to C$47.00 and gave the stock a "buy" rating in a report on Tuesday. Royal Bank Of Canada lifted their target price on shares of Maple Leaf Foods from C$35.00 to C$38.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. CIBC lifted their target price on shares of Maple Leaf Foods from C$32.00 to C$38.00 in a report on Wednesday, July 16th. Stifel Canada raised shares of Maple Leaf Foods to a "strong-buy" rating in a report on Monday, June 2nd. Finally, Stifel Nicolaus boosted their price objective on shares of Maple Leaf Foods from C$36.50 to C$40.50 and gave the company a "buy" rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of C$38.07.

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.

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