Maple Leaf Foods (TSE:MFI) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

Maple Leaf Foods Inc. (TSE:MFI)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$22.86 and traded as low as C$22.14. Maple Leaf Foods shares last traded at C$22.19, with a volume of 205,262 shares.

Wall Street Analysts Forecast Growth

MFI has been the subject of several recent analyst reports. National Bankshares reduced their target price on Maple Leaf Foods from C$28.00 to C$26.00 in a report on Thursday, November 14th. TD Securities reduced their price objective on Maple Leaf Foods from C$35.00 to C$34.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of C$29.93.

Maple Leaf Foods Price Performance

The firm has a fifty day moving average of C$22.33 and a 200 day moving average of C$22.86. The company has a current ratio of 1.32, a quick ratio of 0.54 and a debt-to-equity ratio of 132.03. The company has a market capitalization of C$2.73 billion, a P/E ratio of 246.56, a P/E/G ratio of 18.07 and a beta of 0.47.

Maple Leaf Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.88 dividend on an annualized basis and a yield of 3.97%. Maple Leaf Foods’s dividend payout ratio is presently 977.78%.

Insider Activity

In other news, Director Linda Mantia bought 4,498 shares of Maple Leaf Foods stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of C$22.23 per share, for a total transaction of C$99,990.54. Company insiders own 39.87% of the company’s stock.

About Maple Leaf Foods

Maple Leaf Foods Inc produces food products in the United States, Canada, Japan, China, and internationally. The company operates through Meat Protein Group and Plant Protein Group segments. It produces various food products, including prepared meats, ready-to-cook and ready-to-serve meals, fresh pork and poultry, and plant protein products; bacon, hams, wieners, and meat snacks; a variety of delicatessen products; and processed chicken products, such as fully cooked chicken breasts and wings, processed turkey products, specialty sausages, cooked meats, sliced meats, cooked sausage products, lunch kits, and canned meats.