Canadian Imperial Bank of Commerce Analysts Give Maple Leaf Foods (TSE:MFI) a C$36.00 Price Target

Canadian Imperial Bank of Commerce set a C$36.00 price objective on Maple Leaf Foods (TSE:MFI) in a research report sent to investors on Monday, Marketbeat.com reports. The brokerage currently has an outperformer rating on the stock.

Other equities analysts have also issued research reports about the company. Ventum Capital increased their target price on Maple Leaf Foods from C$37.00 to C$39.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. National Bank Financial boosted their price target on 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. Scotia upped their price objective on Maple Leaf Foods from C$32.00 to C$36.00 and gave the company a “sector outperform” rating in a report on Friday, May 8th. Desjardins set a C$39.00 price objective on Maple Leaf Foods and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Royal Bank Of Canada lifted their target price on Maple Leaf Foods from C$33.00 to C$34.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$36.42.

Maple Leaf Foods Stock Up 0.4%

Shares of MFI opened at C$29.32 on Monday. The firm has a market cap of C$3.65 billion, a P/E ratio of 6.96, a price-to-earnings-growth ratio of 18.07 and a beta of 0.34. The company has a debt-to-equity ratio of 91.78, a quick ratio of 0.54 and a current ratio of 1.34. Maple Leaf Foods has a 52 week low of C$23.35 and a 52 week high of C$36.35. The firm’s 50-day simple moving average is C$30.01 and its 200 day simple moving average is C$28.82.

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

Maple Leaf Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.84 annualized dividend and a yield of 2.9%. Maple Leaf Foods’s payout ratio is currently 20.90%.

Insider Activity

In related news, Director Jonathan Wallace Ferguson Mccain bought 7,500 shares of Maple Leaf Foods stock in a transaction dated Thursday, May 14th. The shares were bought at an average cost of C$27.92 per share, with a total value of C$209,400.00. Following the acquisition, the director owned 148,000 shares in the company, valued at C$4,132,160. This trade represents a 5.34% increase in their position. Also, insider Andreas Liris bought 2,500 shares of Maple Leaf Foods stock in a transaction dated Wednesday, May 13th. The shares were bought at an average cost of C$28.36 per share, for a total transaction of C$70,900.00. Following the completion of the acquisition, the insider owned 15,500 shares in the company, valued at C$439,580. This represents a 19.23% increase in their position. In the last quarter, insiders purchased 12,500 shares of company stock worth $350,102 and sold 142,699 shares worth $4,176,580. 39.87% of the stock is owned by insiders.

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.