Maple Leaf Foods (TSE:MFI) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Maple Leaf Foods shares surpassed their 200-day moving average, trading at C$29.24, while the high for the day reached C$29.61.
• Analysts have shown optimism, with TD Securities raising their target price to C$41.00 and a general average rating of "Buy" across multiple firms.
• The company recently declared a quarterly dividend of $0.24, leading to an annualized yield of 3.3%, although it has a high payout ratio of 324.76%.

Maple Leaf Foods Inc. (TSE:MFI - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$25.46 and traded as high as C$29.61. Maple Leaf Foods shares last traded at C$29.24, with a volume of 145,920 shares traded.

Analyst Ratings Changes

Several analysts have commented on MFI shares. Stifel Canada upgraded Maple Leaf Foods to a "strong-buy" rating in a report on Monday, June 2nd. Royal Bank Of Canada lifted their price target on Maple Leaf Foods from C$33.00 to C$35.00 and gave the company an "outperform" rating in a report on Friday. CIBC lifted their price target on Maple Leaf Foods from C$32.00 to C$38.00 in a report on Wednesday, July 16th. Finally, TD Securities lifted their price objective on Maple Leaf Foods from C$38.00 to C$41.00 and gave the company a "buy" rating in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Maple Leaf Foods currently has an average rating of "Buy" and an average target price of C$34.60.

Maple Leaf Foods Stock Up 0.7%

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 has a market capitalization of C$3.65 billion, a P/E ratio of 107.50, a P/E/G ratio of 18.07 and a beta of 0.47. The stock has a fifty day moving average price of C$28.62 and a two-hundred day moving average price of C$25.63.

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 issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, June 6th. Maple Leaf Foods's payout ratio is 324.76%.

Insider Buying and Selling

In related 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 transaction of C$94,788.00. Following the completion of the transaction, the insider directly owned 28 shares in the company, valued at C$737.24. This represents a 99.23% decrease in their position. 39.87% of the stock is currently owned by 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.