Maple Leaf Foods (TSE:MFI) Price Target Raised to C$38.00

Maple Leaf Foods (TSE:MFI) had its price objective lifted by CIBC from C$32.00 to C$38.00 in a research note released on Wednesday morning,BayStreet.CA reports.

MFI has been the subject of a number of other research reports. Scotiabank upgraded shares of Maple Leaf Foods to a “hold” rating in a research note on Tuesday, April 1st. Stifel Canada upgraded shares of Maple Leaf Foods to a “strong-buy” rating in a research note on Monday, June 2nd. Finally, TD Securities increased their target price on shares of Maple Leaf Foods from C$38.00 to C$41.00 and gave the company a “buy” rating in a research report on Tuesday. One research 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$33.60.

Maple Leaf Foods Trading Up 0.1%

TSE MFI opened at C$30.37 on Wednesday. Maple Leaf Foods has a one year low of C$19.61 and a one year high of C$30.70. The firm has a 50 day simple moving average of C$28.03 and a 200-day simple moving average of C$24.95. The firm has a market cap of C$3.80 billion, a price-to-earnings ratio of 112.08, a PEG ratio of 18.07 and a beta of 0.47. The company has a debt-to-equity ratio of 130.19, a quick ratio of 0.54 and a current ratio of 1.26.

Maple Leaf Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 30th were issued a $0.24 dividend. The ex-dividend date was Friday, June 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.16%. Maple Leaf Foods’s dividend payout ratio (DPR) is 324.76%.

Insider Buying and Selling at Maple Leaf Foods

In other news, Senior Officer Olajumoke Fagbemi sold 3,600 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of C$26.33, for a total value of C$94,788.00. Following the completion of the sale, the insider owned 28 shares of the company’s stock, valued at C$737.24. This represents a 99.23% decrease in their ownership of the stock. 39.87% of the stock is owned by corporate 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.