Maple Leaf Foods (TSE:MFI) Given New C$30.00 Price Target at Royal Bank of Canada

Maple Leaf Foods (TSE:MFI) had its target price hoisted by Royal Bank of Canada from C$29.00 to C$30.00 in a report released on Wednesday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

MFI has been the topic of several other reports. CIBC boosted their price objective on shares of Maple Leaf Foods from C$30.00 to C$32.00 and gave the company an “outperform” rating in a report on Wednesday. National Bankshares upped their price objective on shares of Maple Leaf Foods from C$26.00 to C$27.00 and gave the stock an “outperform” rating in a report on Wednesday. Canaccord Genuity Group increased their price objective on shares of Maple Leaf Foods from C$30.00 to C$32.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, TD Securities cut their target price on Maple Leaf Foods from C$35.00 to C$34.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Maple Leaf Foods currently has a consensus rating of “Buy” and a consensus target price of C$31.08.

Maple Leaf Foods Price Performance

MFI stock opened at C$25.46 on Wednesday. Maple Leaf Foods has a 52-week low of C$19.61 and a 52-week high of C$26.10. The business has a fifty day moving average of C$21.33 and a two-hundred day moving average of C$21.97. The stock has a market cap of C$3.19 billion, a price-to-earnings ratio of 93.96, a price-to-earnings-growth 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.

Maple Leaf Foods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.77%. This is a boost from Maple Leaf Foods’s previous quarterly dividend of $0.22. Maple Leaf Foods’s payout ratio is 324.76%.

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.