Maple Leaf Foods (TSE:MFI) Shares Cross Above 200-Day Moving Average – Here’s Why

Shares of Maple Leaf Foods Inc. (TSE:MFI) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$22.29 and traded as high as C$25.11. Maple Leaf Foods shares last traded at C$24.92, with a volume of 181,052 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on MFI. CIBC raised their target price on Maple Leaf Foods from C$30.00 to C$32.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Canaccord Genuity Group upped their price objective on 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. National Bankshares raised 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 boosted their target price on shares of Maple Leaf Foods from C$29.00 to C$30.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$31.08.

Maple Leaf Foods Stock Performance

The company has a market capitalization of C$3.12 billion, a price-to-earnings ratio of 91.97, a price-to-earnings-growth ratio of 18.07 and a beta of 0.47. The firm has a fifty day simple moving average of C$23.18 and a 200 day simple moving average of C$22.29. The company has a debt-to-equity ratio of 130.19, a current ratio of 1.26 and a quick ratio of 0.54.

Maple Leaf Foods Increases Dividend

The business also recently declared 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. This represents a $0.96 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Maple Leaf Foods’s previous quarterly dividend of $0.22. Maple Leaf Foods’s payout ratio is presently 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.