Maple Leaf Foods (TSE:MFI) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Maple Leaf Foods Inc. (TSE:MFI) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$24.67 and traded as high as C$29.91. Maple Leaf Foods shares last traded at C$29.77, with a volume of 101,983 shares traded.

Analysts Set New Price Targets

Several brokerages have recently commented on MFI. Stifel Canada upgraded shares of Maple Leaf Foods to a “strong-buy” rating in a research report on Monday, June 2nd. TD Securities increased their price target on Maple Leaf Foods from C$34.00 to C$38.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Finally, Scotiabank raised Maple Leaf Foods to a “hold” rating in a research report on Tuesday, April 1st. 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, the company currently has a consensus rating of “Buy” and a consensus target price of C$31.80.

Maple Leaf Foods Price Performance

The company has a debt-to-equity ratio of 130.19, a current ratio of 1.26 and a quick ratio of 0.54. The stock has a market cap of C$3.73 billion, a price-to-earnings ratio of 109.86, a P/E/G ratio of 18.07 and a beta of 0.47. The stock has a fifty day moving average of C$27.59 and a 200 day moving average of C$24.67.

Maple Leaf Foods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 30th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.96 dividend on an annualized basis and a yield of 3.22%. Maple Leaf Foods’s dividend payout ratio is presently 324.76%.

Insider Transactions at Maple Leaf Foods

In other Maple Leaf Foods news, Senior Officer Olajumoke Fagbemi sold 3,600 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 28 shares of the company’s stock, valued at approximately C$737.24. The trade was a 99.23% decrease 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.