Canaccord Genuity Group Cuts Maple Leaf Foods (TSE:MFI) Price Target to C$37.00

Maple Leaf Foods (TSE:MFI) had its price objective reduced by Canaccord Genuity Group from C$39.00 to C$37.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other analysts also recently issued reports on the stock. Ventum Capital raised their price target on shares of Maple Leaf Foods from C$37.00 to C$39.00 and gave the company a “buy” rating in a report on Friday, May 8th. Scotiabank lowered their price objective on shares of Maple Leaf Foods from C$36.00 to C$33.00 and set a “sector outperform” rating on the stock in a research report on Thursday. Scotia raised their target price on shares of Maple Leaf Foods from C$32.00 to C$36.00 and gave the stock a “sector outperform” rating in a report on Friday, May 8th. Canadian Imperial Bank of Commerce set a C$36.00 target price on shares of Maple Leaf Foods and gave the stock an “outperformer” rating in a research report on Monday, July 27th. Finally, National Bank Financial boosted their target price on shares of Maple Leaf Foods from C$35.00 to C$37.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$36.33.

Maple Leaf Foods Trading Down 0.3%

Shares of TSE:MFI opened at C$26.81 on Thursday. The company has a debt-to-equity ratio of 97.47, a current ratio of 1.56 and a quick ratio of 0.54. Maple Leaf Foods has a 1 year low of C$23.35 and a 1 year high of C$36.35. The company has a market cap of C$3.34 billion, a P/E ratio of 6.59, a PEG ratio of 18.07 and a beta of 0.32. The stock’s fifty day moving average price is C$29.59 and its 200-day moving average price is C$28.99.

Maple Leaf Foods (TSE:MFI) last released its quarterly earnings data on Wednesday, August 12th. The company reported C$0.44 EPS for the quarter. Maple Leaf Foods had a return on equity of 36.83% and a net margin of 13.08%.The company had revenue of C$1.02 billion during the quarter. Sell-side analysts expect that Maple Leaf Foods will post 1.4334187 earnings per share for the current year.

Maple Leaf Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.1%. Maple Leaf Foods’s dividend payout ratio is 20.88%.

Insider Buying and Selling

In related news, Director Curtis Eugene Frank sold 96,191 shares of the business’s stock in a transaction that occurred on Monday, May 25th. The stock was sold at an average price of C$29.25, for a total value of C$2,813,586.75. Following the transaction, the director directly owned 101,469 shares of the company’s stock, valued at approximately C$2,967,968.25. The trade was a 48.66% decrease in their position. Also, insider Randall Huffman sold 5,075 shares of the company’s stock in a transaction that occurred on Monday, May 25th. The stock was sold at an average price of C$29.45, for a total value of C$149,458.75. Following the completion of the transaction, the insider owned 89,044 shares of the company’s stock, valued at C$2,622,345.80. The trade was a 5.39% decrease in their ownership of the stock. Over the last 90 days, insiders sold 137,829 shares of company stock worth $4,036,811. 39.87% of the stock is owned by corporate insiders.

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