Maple Leaf Foods (TSE:MFI) Shares Cross Above 200-Day Moving Average – What’s Next?

Maple Leaf Foods Inc. (TSE:MFI)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MFI shares. 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. National Bankshares raised their target price on Maple Leaf Foods from C$26.00 to C$27.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Royal Bank of Canada lifted their price target on Maple Leaf Foods from C$29.00 to C$30.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, CIBC lifted their price target on Maple Leaf Foods from C$30.00 to C$32.00 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 MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$31.08.

Maple Leaf Foods Trading Down 0.3 %

The business has a 50 day moving average price of C$22.82 and a 200 day moving average price of C$22.20. 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 company has a market capitalization of C$3.12 billion, a P/E ratio of 91.97, a PEG ratio of 18.07 and a beta of 0.47.

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 given a dividend of $0.24 per share. This is an increase from Maple Leaf Foods’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Friday, March 7th. Maple Leaf Foods’s dividend 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.