Maple Leaf Foods (TSE:MFI) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Maple Leaf Foods Inc. (TSE:MFI) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$27.72 and traded as high as C$31.09. Maple Leaf Foods shares last traded at C$30.92, with a volume of 145,464 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Desjardins set a C$39.00 target price on Maple Leaf Foods and gave the company a “buy” rating in a research report on Thursday, June 4th. Scotia increased their target price on Maple Leaf Foods from C$32.00 to C$36.00 and gave the company a “sector outperform” rating in a research report on Friday, May 8th. Ventum Financial set a C$37.00 target price on Maple Leaf Foods and gave the company a “buy” rating in a research report on Wednesday, April 22nd. National Bank Financial increased their target price on Maple Leaf Foods from C$35.00 to C$37.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, Royal Bank Of Canada increased their target price on Maple Leaf Foods from C$33.00 to C$34.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$36.33.

Maple Leaf Foods Stock Performance

The company has a market capitalization of C$3.85 billion, a P/E ratio of 7.34, a P/E/G ratio of 18.07 and a beta of 0.35. The business has a 50-day moving average of C$29.66 and a 200-day moving average of C$27.72. The company has a debt-to-equity ratio of 91.78, a current ratio of 1.34 and a quick ratio of 0.54.

Maple Leaf Foods (TSE:MFI) last issued its quarterly earnings results on Thursday, May 7th. The company reported C$0.34 earnings per share (EPS) for the quarter. The company had revenue of C$962.85 million during the quarter. Maple Leaf Foods had a return on equity of 36.56% and a net margin of 12.44%. On average, sell-side analysts anticipate that Maple Leaf Foods Inc. will post 1.4334187 EPS for the current year.

Maple Leaf Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, June 8th. Maple Leaf Foods’s dividend payout ratio (DPR) is 20.90%.

Insider Buying and Selling at Maple Leaf Foods

In other Maple Leaf Foods news, insider Andreas Liris bought 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of C$28.36 per share, for a total transaction of C$70,900.00. Following the completion of the transaction, the insider owned 15,500 shares in the company, valued at C$439,580. This trade represents a 19.23% increase in their ownership of the stock. Also, Director Jonathan Wallace Ferguson Mccain bought 7,500 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of C$27.92 per share, with a total value of C$209,400.00. Following the completion of the transaction, the director owned 148,000 shares of the company’s stock, valued at approximately C$4,132,160. The trade was a 5.34% increase in their position. In the last 90 days, insiders purchased 12,500 shares of company stock valued at $350,102 and sold 142,699 shares valued at $4,176,580. 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. The key brands are Maple Leaf and Schneiders, Maple Leaf Prime Naturally, Shopsy, Mitchell’s Gourmet Food, Larse, Parm, and Hygrade.