Maple Leaf Foods (TSE:MFI) Stock Passes Above 200-Day Moving Average – What’s Next?

Maple Leaf Foods Inc. (TSE:MFI)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$25.15 and traded as high as C$30.48. Maple Leaf Foods shares last traded at C$29.93, with a volume of 118,122 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MFI shares. CIBC lifted their price objective on shares of Maple Leaf Foods from C$32.00 to C$38.00 in a research note on Wednesday, July 16th. Scotiabank upgraded Maple Leaf Foods to a “hold” rating in a research note on Tuesday, April 1st. TD Securities upped their price target on Maple Leaf Foods from C$38.00 to C$41.00 and gave the stock a “buy” rating in a research note on Tuesday, July 15th. Finally, Stifel Canada upgraded Maple Leaf Foods to a “strong-buy” rating in a research report on Monday, June 2nd. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$33.60.

Maple Leaf Foods Stock Down 1.3%

The firm has a market capitalization of C$3.75 billion, a PE ratio of 110.45, a P/E/G ratio of 18.07 and a beta of 0.47. 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 50-day simple moving average of C$28.25 and a 200-day simple moving average of C$25.15.

Maple Leaf Foods Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 30th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date was Friday, June 6th. Maple Leaf Foods’s dividend payout ratio (DPR) is presently 324.76%.

Insider Buying and Selling

In related news, Senior Officer Olajumoke Fagbemi sold 3,600 shares of the firm’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 transaction of C$94,788.00. Following the completion of the transaction, the insider owned 28 shares of the company’s stock, valued at C$737.24. This trade represents a 99.23% decrease in their position. 39.87% of the stock is owned by 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.