Maple Leaf Foods (TSE:MFI) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Shares of Maple Leaf Foods Inc. (TSE:MFI) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$22.18 and traded as high as C$25.01. Maple Leaf Foods shares last traded at C$24.99, with a volume of 93,921 shares changing hands.

Wall Street Analysts Forecast Growth

MFI has been the subject of a number of recent research reports. CIBC raised their target price 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, February 26th. Canaccord Genuity Group lifted 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 note on Monday, January 13th. National Bankshares lifted 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 research note on Wednesday, February 26th. Finally, Royal Bank of Canada lifted their price objective on shares of Maple Leaf Foods from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$31.08.

Maple Leaf Foods Price Performance

The stock has a market capitalization of C$3.13 billion, a PE ratio of 92.22, 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. The stock’s 50 day moving average price is C$22.76 and its 200-day moving average price is C$22.18.

Maple Leaf Foods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be paid a dividend of $0.24 per share. This is a positive change from Maple Leaf Foods’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Friday, March 7th. Maple Leaf Foods’s payout ratio is currently 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.