Maple Leaf Foods Inc. (TSE:MFI – Get Rating)'s share price traded down 15.3% on Thursday . The stock traded as low as C$22.02 and last traded at C$22.83. 309,884 shares traded hands during trading, an increase of 32% from the average session volume of 235,047 shares. The stock had previously closed at C$26.96.
Analysts Set New Price Targets
Several analysts have weighed in on the company. BMO Capital Markets dropped their price target on Maple Leaf Foods from C$36.00 to C$31.00 in a research note on Friday. CIBC dropped their price target on Maple Leaf Foods from C$41.00 to C$35.00 and set an "outperform" rating on the stock in a research note on Friday. TD Securities decreased their price objective on Maple Leaf Foods from C$45.00 to C$39.00 and set an "action list buy" rating for the company in a report on Friday. Scotiabank decreased their price objective on Maple Leaf Foods from C$40.00 to C$34.00 in a report on Friday. Finally, Royal Bank of Canada decreased their price objective on Maple Leaf Foods from C$42.00 to C$36.00 and set an "outperform" rating for the company in a report on Friday. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Maple Leaf Foods presently has an average rating of "Buy" and an average target price of C$35.00.
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Maple Leaf Foods Trading Down 2.0 %
The firm has a market cap of C$2.73 billion and a price-to-earnings ratio of 39.78. The company has a current ratio of 1.55, a quick ratio of 0.48 and a debt-to-equity ratio of 73.88. The company has a fifty day moving average price of C$26.14 and a 200-day moving average price of C$28.08.
Maple Leaf Foods (TSE:MFI – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The company reported C$0.03 earnings per share for the quarter. The business had revenue of C$1.13 billion during the quarter. As a group, research analysts expect that Maple Leaf Foods Inc. will post 2.2000002 EPS for the current year.
Maple Leaf Foods Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 8th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $0.80 dividend on an annualized basis and a yield of 3.66%. Maple Leaf Foods's payout ratio is 134.55%.
Insider Buying and Selling
In other Maple Leaf Foods news, Senior Officer Curtis Eugene Frank purchased 3,218 shares of Maple Leaf Foods stock in a transaction that occurred on Thursday, June 30th. The stock was bought at an average price of C$25.32 per share, with a total value of C$81,479.76. Following the acquisition, the insider now owns 3,218 shares of the company's stock, valued at approximately C$81,479.76. In other news, Senior Officer Curtis Eugene Frank bought 3,218 shares of Maple Leaf Foods stock in a transaction on Thursday, June 30th. The stock was acquired at an average price of C$25.32 per share, with a total value of C$81,479.76. Following the completion of the acquisition, the insider now directly owns 3,218 shares of the company's stock, valued at C$81,479.76. Also, Senior Officer Bentley Andrew Brooks sold 9,997 shares of the stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of C$27.40, for a total value of C$273,917.80. Following the transaction, the insider now directly owns 21,973 shares of the company's stock, valued at approximately C$602,060.20.
About Maple Leaf Foods
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Maple Leaf Foods Inc produces food products in the United States, Canada, Japan, China, and internationally. It produces various food products, including prepared meats, ready-to-cook and ready-to-serve meals, snacks kits, fresh pork and poultry, and plant protein products. The company offers its products under various brands, including Maple Leaf, Schneiders, Greenfield Natural Meat Co, Swift, Prime, Maple Leaf Natural Selections, Mina, Big Stick, Cappola, Deli Express, Field Roast Grain Meat Co, Holiday, Hygrade, Larsen, Lightlife, Lunch Mate, Main Street Deli, Maple Leaf Foodservice, Mitchell's, Olympic Craft Meats, Parma, Shopsy's, Sunrise, and Swift.
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