TD Securities Forecasts Strong Price Appreciation for Maple Leaf Foods (TSE:MFI) Stock

Maple Leaf Foods (TSE:MFI - Free Report) had its target price lifted by TD Securities from C$38.00 to C$41.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other research firms also recently issued reports on MFI. Scotiabank upgraded shares of Maple Leaf Foods to a "hold" rating in a research note on Tuesday, April 1st. Stifel Canada raised shares of Maple Leaf Foods to a "strong-buy" rating in a research report on Monday, June 2nd. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of C$33.60.

Maple Leaf Foods Trading Up 0.4%

Shares of MFI stock traded up C$0.12 on Tuesday, reaching C$30.46. 48,530 shares of the stock were exchanged, compared to its average volume of 209,296. 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 stock has a market cap of C$3.81 billion, a P/E ratio of 112.41, a price-to-earnings-growth ratio of 18.07 and a beta of 0.47. The firm has a 50 day moving average of C$27.96 and a two-hundred day moving average of C$24.88. Maple Leaf Foods has a 1-year low of C$19.61 and a 1-year high of C$30.70.

Maple Leaf Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 30th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.15%. The ex-dividend date was Friday, June 6th. Maple Leaf Foods's 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 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 completion of the sale, the insider directly owned 28 shares of the company's stock, valued at approximately C$737.24. This represents a 99.23% decrease in their position. 39.87% of the stock is owned by company 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.