Maple Leaf Foods (TSE:MFI) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Maple Leaf Foods Inc. (TSE:MFI - Get Free Report) shares passed 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 changing hands.

Wall Street Analysts Forecast Growth

MFI has been the topic of a number of recent research reports. CIBC upped their target price on shares of 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. Royal Bank of Canada upped their price objective on Maple Leaf Foods from C$29.00 to C$30.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Canaccord Genuity Group increased their price target on shares of Maple Leaf Foods from C$30.00 to C$32.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Finally, National Bankshares boosted their price target on shares of 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. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of C$31.08.

Maple Leaf Foods Stock Performance

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 has a fifty day moving average price of C$22.76 and a 200-day moving average price of C$22.18. The firm has a market cap 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.

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Maple Leaf Foods Increases Dividend

The company 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 dividend of $0.24 per share. This is a boost from Maple Leaf Foods's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a 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%.

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.