Maple Leaf Foods (TSE:MFI) Reaches New 12-Month High - Time to Buy?

Key Points

• Maple Leaf Foods shares reached a new 52-week high, trading at C$33.85, indicating strong investor interest and activity with a volume of 202,210 shares.
• Wall Street analysts have shown optimism for Maple Leaf Foods, with multiple upgrades and target price increases, resulting in a consensus rating of "Buy" and an average target price of C$37.36.
• The company recently announced a quarterly dividend of $0.24 per share, contributing to an annual dividend yield of 2.8%, despite a high payout ratio of 324.76%.

Maple Leaf Foods Inc. (TSE:MFI - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$33.85 and last traded at C$33.85, with a volume of 202210 shares trading hands. The stock had previously closed at C$33.37.

Wall Street Analyst Weigh In

Several equities analysts have commented on MFI shares. CIBC lifted their target price on shares of Maple Leaf Foods from C$32.00 to C$38.00 in a research report on Wednesday, July 16th. Scotiabank lifted their price target on Maple Leaf Foods from C$30.00 to C$35.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Stifel Canada raised Maple Leaf Foods to a "strong-buy" rating in a research report on Monday, June 2nd. Stifel Nicolaus boosted their target price on shares of Maple Leaf Foods from C$36.50 to C$40.50 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, Royal Bank Of Canada lifted their price objective on 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. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Maple Leaf Foods currently has a consensus rating of "Buy" and a consensus target price of C$37.36.

Maple Leaf Foods Trading Up 0.8%

The stock has a market cap of C$4.35 billion, a P/E ratio of 128.39, a PEG ratio of 18.07 and a beta of 0.47. 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 firm's fifty day moving average price is C$29.63 and its two-hundred day moving average price is C$26.33.

Maple Leaf Foods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.96 annualized dividend and a yield of 2.8%. Maple Leaf Foods's dividend payout ratio is currently 324.76%.

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.