Home / Market Movers / Midday Mover: Maple Leaf Foods Inc. (MFI:CA) Gains 1.28% to Lead TSX Composite Consumer Staples Stocks at Noon on September 22

Midday Mover: Maple Leaf Foods Inc. (MFI:CA) Gains 1.28% to Lead TSX Composite Consumer Staples Stocks at Noon on September 22

Maple Leaf Foods Inc. (MFI:CA) is one of the best performing stocks in the consumer staples sector in the S&P/TSX Composite Index at the lunch break on September 22. Shares of MFI:CA have climbed 1.28% about halfway through the session to $30.18 after closing the day prior at $29.8. So far, the stock has traded as high as $30.23 and as low as $29.82 in morning action. Today’s advance has come with about 62,591 shares changing hands, compared to an average 30-day volume of 161,346 for Maple Leaf Foods Inc.. The price is currently below the 30-day volume weighted average price of $29.94 for MFI:CA.

The share appreciation gives the consumer staples company a market capitalization of $4.01 billion based upon 134.67 million shares outstanding. It also means that Maple Leaf Foods has a price-to-book ratio of 1.92:1 and a price-to-earnings ratio of 32.7:1.

In the past 52 weeks, shares of MFI:CA have traded as low as $19.51 and as high as $30.73. Technical traders will take note that at $30.18, shares of MFI:CA are trading above their 200-day MA at $26.49 and above their 50-day MA at $29.07. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is Maple Leaf Foods?

Maple Leaf Foods Inc is a producer of food products. Its portfolio includes prepared meats, ready-to-cook and read to serve meals and value-added fresh pork and poultry. The company’s 11500 employees are led by CEO Michael H. McCain from the corporate headquarters at 6985 Financial Drive.

What is the S&P/TSX Composite Index?

Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index.

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