Maple Leaf Foods (TSE:MFI) Insider Sells C$941,690.31 in Stock

Maple Leaf Foods Inc. (TSE:MFI) insider Adam John Grogan sold 32,063 shares of Maple Leaf Foods stock in a transaction on Friday, May 22nd. The stock was sold at an average price of C$29.37, for a total value of C$941,690.31. Following the sale, the insider directly owned 41,277 shares of the company’s stock, valued at C$1,212,305.49. This represents a 43.72% decrease in their position.

Maple Leaf Foods Stock Up 0.6%

MFI opened at C$29.84 on Friday. Maple Leaf Foods Inc. has a fifty-two week low of C$23.35 and a fifty-two week high of C$36.35. The company has a debt-to-equity ratio of 91.78, a quick ratio of 0.54 and a current ratio of 1.34. The company has a market capitalization of C$3.71 billion, a P/E ratio of 7.09, a P/E/G ratio of 18.07 and a beta of 0.54. The stock has a fifty day moving average of C$29.43 and a 200-day moving average of C$27.23.

Maple Leaf Foods (TSE:MFI) last posted its earnings results on Thursday, May 7th. The company reported C$0.34 earnings per share for the quarter. Maple Leaf Foods had a return on equity of 36.56% and a net margin of 12.44%.The company had revenue of C$962.85 million during the quarter. On average, equities analysts expect that Maple Leaf Foods Inc. will post 1.4334187 EPS for the current year.

Maple Leaf Foods Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.8%. This is a boost from Maple Leaf Foods’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, March 9th. Maple Leaf Foods’s payout ratio is presently 20.90%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Royal Bank Of Canada boosted their price target on Maple Leaf Foods from C$33.00 to C$34.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Scotiabank upgraded shares of Maple Leaf Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 11th. Stifel Nicolaus lifted their price objective on shares of Maple Leaf Foods from C$35.00 to C$36.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Ventum Financial set a C$37.00 price objective on shares of Maple Leaf Foods and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Finally, Ventum Capital lifted their price objective on shares of Maple Leaf Foods from C$37.00 to C$39.00 and gave the company a “buy” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, Maple Leaf Foods presently has a consensus rating of “Buy” and an average target price of C$36.33.

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. The key brands are Maple Leaf and Schneiders, Maple Leaf Prime Naturally, Shopsy, Mitchell’s Gourmet Food, Larse, Parm, and Hygrade.