Maple Leaf Foods (TSE:MFI) Stock Gets Price Target Trim from National Bank Financial

Maple Leaf Foods (TSE:MFI) had its price target reduced by National Bank Financial from C$34.00 to C$29.00 in a report issued on Wednesday,BayStreet reports. National Bank Financial currently has an outperform rating on the stock.

MFI has been the topic of several other research reports. TD Securities upgraded Maple Leaf Foods to a “strong-buy” rating in a report on Monday, June 22nd. Canaccord Genuity Group lowered their price target on Maple Leaf Foods from C$39.00 to C$37.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Ventum Financial dropped their price objective on shares of Maple Leaf Foods from C$39.00 to C$37.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Canadian Imperial Bank of Commerce set a C$36.00 price objective on shares of Maple Leaf Foods and gave the stock an “outperformer” rating in a research note on Monday, July 27th. Finally, Desjardins cut their price objective on shares of Maple Leaf Foods from C$39.00 to C$36.00 and set a “buy” rating on the stock in a research report on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$35.67.

Maple Leaf Foods Trading Up 1.8%

Shares of MFI stock opened at C$25.81 on Wednesday. Maple Leaf Foods has a 1 year low of C$23.35 and a 1 year high of C$31.87. The company has a debt-to-equity ratio of 97.47, a current ratio of 1.56 and a quick ratio of 0.54. The stock’s 50 day simple moving average is C$26.14 and its two-hundred day simple moving average is C$28.44. The company has a market cap of C$3.22 billion, a PE ratio of 6.34, a price-to-earnings-growth ratio of 18.07 and a beta of 0.26.

Maple Leaf Foods (TSE:MFI) last posted its quarterly earnings data on Wednesday, August 12th. The company reported C$0.44 earnings per share (EPS) for the quarter. The business had revenue of C$1.02 billion during the quarter. Maple Leaf Foods had a return on equity of 36.83% and a net margin of 13.08%. Research analysts predict that Maple Leaf Foods will post 1.43 earnings per share for the current year.

Maple Leaf Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were paid a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $0.84 annualized dividend and a yield of 3.3%. Maple Leaf Foods’s dividend payout ratio (DPR) is presently 20.88%.

Insider Activity

In other Maple Leaf Foods news, Director Andrew Gordon Macdonald bought 10,000 shares of the company’s stock in a transaction on Friday, September 4th. The stock was acquired at an average price of C$26.78 per share, for a total transaction of C$267,800.00. Following the completion of the transaction, the director directly owned 72,200 shares of the company’s stock, valued at approximately C$1,933,516. This represents a 16.08% increase 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. The key brands are Maple Leaf and Schneiders, Maple Leaf Prime Naturally, Shopsy, Mitchell’s Gourmet Food, Larse, Parm, and Hygrade.