Adam John Grogan Sells 32,063 Shares of Maple Leaf Foods (TSE:MFI) Stock

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

Maple Leaf Foods Trading Down 1.0%

TSE:MFI traded down C$0.30 during mid-day trading on Tuesday, hitting C$29.14. 178,860 shares of the company’s stock were exchanged, compared to its average volume of 304,238. The company has a 50 day simple moving average of C$29.43 and a 200-day simple moving average of C$27.15. The company has a current ratio of 1.34, a quick ratio of 0.54 and a debt-to-equity ratio of 91.78. 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 firm has a market capitalization of C$3.63 billion, a P/E ratio of 6.92, a PEG ratio of 18.07 and a beta of 0.54.

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

Maple Leaf Foods Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were given a $0.21 dividend. This is an increase from Maple Leaf Foods’s previous quarterly dividend of $0.19. The ex-dividend date was Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.9%. Maple Leaf Foods’s dividend payout ratio is presently 20.90%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MFI shares. Ventum Financial set a C$37.00 price target on shares of Maple Leaf Foods and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Canaccord Genuity Group boosted their price target on shares of Maple Leaf Foods from C$37.00 to C$38.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Stifel Nicolaus boosted their price target on shares of Maple Leaf Foods from C$35.00 to C$36.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Royal Bank Of Canada boosted their price target on shares of Maple Leaf Foods from C$33.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, National Bank Financial boosted their price target on shares of Maple Leaf Foods from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$36.09.

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.