Maple Leaf Foods (TSE:MFI) Given New C$35.00 Price Target at CIBC

Maple Leaf Foods (TSE:MFI) had its target price cut by CIBC from C$36.00 to C$35.00 in a research note published on Thursday,BayStreet.CA reports.

A number of other research firms have also recently weighed in on MFI. Scotiabank lowered their price objective on Maple Leaf Foods from C$35.00 to C$32.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 8th. Royal Bank Of Canada decreased their price target on Maple Leaf Foods from C$38.00 to C$34.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. National Bankshares dropped their price target on Maple Leaf Foods from C$39.00 to C$36.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. TD Securities cut their price objective on shares of Maple Leaf Foods from C$47.00 to C$43.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Finally, Stifel Nicolaus lifted their target price on shares of Maple Leaf Foods from C$36.50 to C$40.50 and gave the stock a “buy” rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Maple Leaf Foods presently has an average rating of “Buy” and an average target price of C$35.56.

Maple Leaf Foods Price Performance

Shares of MFI opened at C$23.82 on Thursday. The company has a 50 day moving average of C$31.59 and a two-hundred day moving average of C$29.85. The company has a quick ratio of 0.54, a current ratio of 1.26 and a debt-to-equity ratio of 130.19. Maple Leaf Foods has a twelve month low of C$19.61 and a twelve month high of C$36.35. The company has a market cap of C$2.97 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 18.07 and a beta of 0.79.

Maple Leaf Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 29th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.96 dividend on an annualized basis and a yield of 4.0%. Maple Leaf Foods’s dividend payout ratio (DPR) is currently 63.89%.

Insider Activity at Maple Leaf Foods

In other Maple Leaf Foods news, insider Olajumoke Fagbemi bought 2,651 shares of Maple Leaf Foods stock in a transaction that occurred on Wednesday, August 27th. The stock was purchased at an average price of C$35.71 per share, with a total value of C$94,665.62. Following the completion of the acquisition, the insider directly owned 2,679 shares in the company, valued at approximately C$95,665.48. This trade represents a 9,467.86% increase in their position. Also, insider Andreas Liris sold 1,000 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of C$34.77, for a total transaction of C$34,770.00. Following the transaction, the insider owned 14,001 shares of the company’s stock, valued at C$486,814.77. This represents a 6.67% decrease in their ownership of the stock. Insiders own 39.87% of the company’s stock.

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.