Maple Leaf Foods (TSE:MFI) Sets New 52-Week High After Analyst Upgrade

Maple Leaf Foods Inc. (TSE:MFI) reached a new 52-week high during mid-day trading on Wednesday after Royal Bank of Canada raised their price target on the stock from C$29.00 to C$30.00. Royal Bank of Canada currently has an outperform rating on the stock. Maple Leaf Foods traded as high as C$25.82 and last traded at C$25.55, with a volume of 571071 shares trading hands. The stock had previously closed at C$24.57.

A number of other analysts have also recently issued reports on MFI. CIBC lifted 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 research note on Wednesday. National Bankshares boosted their target price on shares of Maple Leaf Foods from C$26.00 to C$27.00 and gave the stock an “outperform” rating in a research report on Wednesday. Canaccord Genuity Group boosted their target price 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 decreased their price target on shares of Maple Leaf Foods from C$35.00 to C$34.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$31.08.

Maple Leaf Foods Trading Up 5.3 %

The company’s fifty day moving average price is C$21.12 and its two-hundred day moving average price is C$21.97. The company has a current ratio of 1.26, a quick ratio of 0.54 and a debt-to-equity ratio of 130.19. The firm has a market cap of C$3.24 billion, a P/E ratio of 95.43, a price-to-earnings-growth ratio of 18.07 and a beta of 0.47.

Maple Leaf Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Friday, December 6th. Maple Leaf Foods’s dividend payout ratio is currently 324.76%.

Maple Leaf Foods Company Profile

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.