Maple Leaf Foods (TSE:MFI) Stock Crosses Above 200-Day Moving Average - Here's What Happened

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$23.81 and traded as high as C$28.21. Maple Leaf Foods shares last traded at C$28.07, with a volume of 52,576 shares.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Stifel Canada raised shares of Maple Leaf Foods to a "strong-buy" rating in a report on Monday, June 2nd. Royal Bank Of Canada raised their target price on shares of Maple Leaf Foods from C$29.00 to C$30.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. National Bankshares raised their target price on shares of Maple Leaf Foods from C$26.00 to C$27.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. TD Securities raised their target price on shares of Maple Leaf Foods from C$34.00 to C$38.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, CIBC raised their target price on shares of Maple Leaf Foods from C$30.00 to C$32.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. One equities research 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. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of C$31.80.

Maple Leaf Foods Trading Down 0.3%

The company has a market cap of C$3.51 billion, a price-to-earnings ratio of 103.59, a price-to-earnings-growth ratio of 18.07 and a beta of 0.47. The company has a quick ratio of 0.54, a current ratio of 1.26 and a debt-to-equity ratio of 130.19. The company's 50-day moving average is C$26.17 and its 200 day moving average is C$23.81.

Maple Leaf Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 30th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, June 6th. This represents a $0.96 annualized dividend and a yield of 3.42%. Maple Leaf Foods's dividend payout ratio is presently 324.76%.

Insider Activity at Maple Leaf Foods

In other news, Senior Officer Olajumoke Fagbemi sold 3,600 shares of Maple Leaf Foods stock in a transaction dated Friday, May 16th. The shares were sold at an average price of C$26.33, for a total value of C$94,788.00. Following the sale, the insider now owns 28 shares in the company, valued at C$737.24. This trade represents a 99.23% decrease in their ownership of the stock. 39.87% of the stock is owned by company 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.

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