Maple Leaf Foods (MFI) Sets New 12-Month High at $29.80

Maple Leaf Foods (TSE:MFI) shares hit a new 52-week high during trading on Wednesday . The company traded as high as C$29.80 and last traded at C$29.36, with a volume of 210303 shares trading hands. The stock had previously closed at C$29.26.

A number of brokerages have recently commented on MFI. Royal Bank of Canada upped their price objective on shares of Maple Leaf Foods from C$37.00 to C$38.00 and gave the company a “sector perform” rating in a research report on Friday, January 19th. Canaccord Genuity upped their target price on shares of Maple Leaf Foods from C$38.00 to C$39.00 in a research note on Thursday, February 15th. Scotiabank lowered their target price on shares of Maple Leaf Foods from C$38.00 to C$36.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 22nd. CIBC upped their target price on shares of Maple Leaf Foods from C$38.00 to C$39.00 in a research note on Thursday, February 22nd. Finally, BMO Capital Markets lowered their target price on shares of Maple Leaf Foods from C$37.00 to C$32.00 in a research note on Thursday, May 3rd.

Maple Leaf Foods (TSE:MFI) last posted its earnings results on Wednesday, February 21st. The company reported C$0.39 earnings per share for the quarter. The business had revenue of C$876.81 million for the quarter. Maple Leaf Foods had a net margin of 4.14% and a return on equity of 7.36%.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 8th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $0.52 dividend on an annualized basis and a yield of 1.77%.

In other Maple Leaf Foods news, insider Ian Vincent Henry sold 3,500 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of C$31.71, for a total transaction of C$110,985.00. Also, insider Rory A. Mcalpine sold 935 shares of the company’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of C$29.12, for a total transaction of C$27,227.20. In the last three months, insiders sold 14,135 shares of company stock worth $452,783.

Maple Leaf Foods Company Profile

Maple Leaf Foods Inc operates as a consumer protein company. It produces various food products, including offers prepared meats, ready-to-cook and ready-to-serve meals, fresh pork, poultry, turkey, and plant protein products. The company offers its products under various brands, including Maple Leaf, Maple Leaf Prime, Maple Leaf Natural Selections, Schneiders, Schneiders Country Naturals, Mina, and Lightlife.

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