Maple Leaf Foods (TSE:MFI) Stock Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Maple Leaf Foods' stock has risen above its 200-day moving average for the first time, trading at C$33.42, significantly higher than its moving average of C$25.89.
• Analyst ratings have improved, with multiple firms raising their target prices and ratings, including a boost from Stifel Nicolaus to C$40.50, indicating a positive outlook for the stock.
• The company recently declared a quarterly dividend of $0.24, reflecting a high payout ratio of 324.76% amidst a current dividend yield of 2.9%.

Maple Leaf Foods Inc. (TSE:MFI - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$25.89 and traded as high as C$33.48. Maple Leaf Foods shares last traded at C$33.42, with a volume of 388,729 shares.

Analyst Ratings Changes

MFI has been the subject of several analyst reports. Stifel Nicolaus boosted their price objective on Maple Leaf Foods from C$36.50 to C$40.50 and gave the stock a "buy" rating in a research report on Friday. National Bankshares boosted their price objective on Maple Leaf Foods from C$31.00 to C$36.00 and gave the stock an "outperform" rating in a research report on Friday. TD Securities boosted their price objective on Maple Leaf Foods from C$41.00 to C$42.00 and gave the stock a "buy" rating in a research report on Friday. Scotiabank boosted their target price 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. Finally, Stifel Canada raised Maple Leaf Foods to a "strong-buy" rating in a report on Monday, June 2nd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Maple Leaf Foods currently has an average rating of "Buy" and an average price target of C$37.36.

Maple Leaf Foods Stock Performance

The stock has a market cap of C$4.18 billion, a P/E ratio of 123.33, a PEG ratio of 18.07 and a beta of 0.47. The company has a fifty day moving average of C$28.96 and a 200 day moving average of C$25.89. The company has a debt-to-equity ratio of 130.19, a current ratio of 1.26 and a quick ratio of 0.54.

Maple Leaf Foods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.96 annualized dividend and a dividend yield of 2.9%. Maple Leaf Foods's dividend payout ratio is currently 324.76%.

Insider Activity

In other Maple Leaf Foods 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 value of C$94,788.00. Following the transaction, the insider owned 28 shares of the company's stock, valued at approximately C$737.24. This represents a 99.23% decrease in their ownership of the stock. Corporate 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.

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