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

Key Points

• Maple Leaf Foods' stock has exceeded its two hundred day moving average, trading at C$36.07 with a sharp increase and a market cap of C$4.47 billion.
• Analyst ratings have improved, with CIBC, Scotiabank, and Royal Bank of Canada raising their price targets, and the consensus estimate now stands at C$38.50.
• The company declared a quarterly dividend of $0.24 per share, yielding 2.7%, with a payout ratio of 63.89% as of September 29th.

Maple Leaf Foods Inc. (TSE:MFI - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$29.07 and traded as high as C$36.31. Maple Leaf Foods shares last traded at C$36.07, with a volume of 284,281 shares traded.

Analyst Ratings Changes

MFI has been the topic of a number of research analyst reports. CIBC lifted their price target on Maple Leaf Foods from C$32.00 to C$38.00 in a research note on Wednesday, July 16th. Scotiabank upped their target price on Maple Leaf Foods from C$30.00 to C$35.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. Royal Bank Of Canada upped their target price on Maple Leaf Foods from C$35.00 to C$38.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Stifel Nicolaus upped their target price on 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. Finally, Stifel Canada upgraded Maple Leaf Foods to a "strong-buy" rating in a report on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Maple Leaf Foods presently has an average rating of "Buy" and a consensus price target of C$38.50.

Maple Leaf Foods Trading Up 1.7%

The company has a 50 day moving average of C$33.79 and a 200-day moving average of C$29.07. 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 stock has a market cap of C$4.47 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 18.07 and a beta of 0.82.

Maple Leaf Foods Dividend Announcement

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

Insider Activity

In other Maple Leaf Foods news, insider Andreas Liris sold 1,000 shares of the company's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of C$34.77, for a total transaction of C$34,770.00. Following the sale, the insider owned 14,001 shares in the company, valued at C$486,814.77. This represents a 6.67% decrease in their position. Also, insider Olajumoke Fagbemi purchased 2,651 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were bought at an average price of C$35.71 per share, for a total transaction of C$94,665.62. Following the acquisition, the insider owned 2,679 shares in the company, valued at C$95,665.48. This trade represents a 9,467.86% increase in their ownership of the stock. 39.87% of the stock is owned by corporate 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.

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