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

Key Points

• Maple Leaf Foods stock recently crossed above its 200-day moving average, trading at C$34.64, with significant trading volume.
• Analysts have raised their price targets on Maple Leaf Foods, with Stifel Nicolaus setting a new target of C$40.50 and several others recommending "buy" or "outperform" ratings.
• The company declared a quarterly dividend of $0.24 per share, representing an annual yield of 2.8%, with a payout ratio of 63.89%.

Shares of Maple Leaf Foods Inc. (TSE:MFI - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$28.52 and traded as high as C$35.04. Maple Leaf Foods shares last traded at C$34.64, with a volume of 222,390 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Stifel Canada raised shares of Maple Leaf Foods to a "strong-buy" rating in a research note on Monday, June 2nd. Royal Bank Of Canada lifted their price target 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. CIBC upped their price objective on Maple Leaf Foods from C$32.00 to C$38.00 in a research note on Wednesday, July 16th. TD Securities boosted 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, September 9th. Finally, Scotiabank lifted their price objective on shares of Maple Leaf Foods from C$30.00 to C$35.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of C$38.50.

Maple Leaf Foods Stock Up 0.7%

The firm has a market capitalization of C$4.37 billion, a price-to-earnings ratio of 24.47, a P/E/G ratio of 18.07 and a beta of 0.82. 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 price is C$33.28 and its 200 day moving average price is C$28.71.

Maple Leaf Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 29th will be paid a $0.24 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.7%. Maple Leaf Foods's dividend payout ratio is presently 63.89%.

Insider Buying and Selling at Maple Leaf Foods

In related news, insider Andreas Liris sold 1,000 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of C$34.77, for a total transaction of C$34,770.00. Following the completion of the transaction, the insider directly owned 14,001 shares in the company, valued at C$486,814.77. The trade was a 6.67% decrease in their ownership of the stock. Also, insider Olajumoke Fagbemi acquired 2,651 shares of Maple Leaf Foods stock in a transaction on Wednesday, August 27th. The shares were bought at an average price of C$35.71 per share, with a total value of C$94,665.62. Following the purchase, the insider directly owned 2,679 shares in the company, valued at approximately C$95,665.48. The trade was a 9,467.86% increase in their position. Company insiders own 39.87% of the company's stock.

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.