|Bid||25.82 x 0|
|Ask||25.87 x 0|
|Day's Range||25.76 - 26.29|
|52 Week Range||21.87 - 35.82|
|Beta (5Y Monthly)||0.82|
|PE Ratio (TTM)||47.17|
|Earnings Date||Feb. 25, 2020 - Mar. 01, 2020|
|Forward Dividend & Yield||0.58 (2.25%)|
|Ex-Dividend Date||Dec. 04, 2019|
|1y Target Est||32.00|
Growth in two major markets should lead to big things for TSX stocks like Maple Leaf Foods Inc. (TSX:MFI) and Jamieson Wellness Inc. (TSX:JWEL).
While most CEOs consider a public political statement off limits, the CEO of Maple Leaf Foods (TSX:MFI) took to Twitter to rant about the U.S. president.
An angry series of tweets from the CEO of Maple Leaf Foods Inc. about the downing of a Ukrainian airliner in Iran are uncharacteristic and risky, but unlikely to create long-term consequences for the company, experts say. "My initial reaction was first an eyebrow raised and then a jaw dropped," said Dimitry Anastakis, a professor at The University of Toronto's Rotman School of Management, after he read Michael McCain's tweets.McCain took over the Maple Leaf Foods Twitter account Sunday evening for what he called his "personal reflections" after learning a colleague had lost his wife and child when Ukraine International Airlines flight PS752 was shot down shortly after takeoff from Tehran airport on Jan. 8, in what Iranian officials have described as an accident.All 176 on board were killed, including 57 Canadians."I am very angry, and time isn't making me less angry," he wrote.The Canadians on board are "collateral damage" from the behaviour of "a narcissist in Washington," he said, adding "we are mourning and I am livid."The company declined an interview request, saying McCain "would prefer to let the messages in his tweets speak for themselves."Anastakis said he couldn't think of a precedent for McCain's comments in Canadian corporate history, especially since they were unsolicited and delivered through the company's Twitter account rather than a personal method of communication.McCain is widely regarded as an effective communicator, and "was always seen as a kind of case study of the greatest response to a public relations disaster" after a deadly listeria outbreak in 2008, said Anastakis.He quickly appeared in a TV ad issuing a candid and abject apology for the outbreak. The company rapidly regained consumer trust under his leadership after the outbreak cost the company millions and sent its stock price plummeting. He was voted the business newsmaker of the year in an annual survey by The Canadian Press.Following the downing of flight PS752, McCain "felt the tragedy warranted his response," according to an emailed statement from Maple Leaf Foods. The company did not immediately respond to follow-up questions.McCain appears to have acted regardless of political or business risk, said Anastakis."There's always multiple levels of risk when a business leader kind of gets into a political debate, especially one that is so charged and controversial," he said.In this case, the risk could mean backlash from Canadian and (more likely) American consumers, as well as possible retaliation from the U.S. government.Maple Leaf announced in April 2019 that it is building a US$310-million plant-based protein facility in Shelbyville, Ind., with the help of government and utility incentives, to support the company's Lightlife and Field Roast brands.The company's shareholders and employees may not be pleased either, said Anastakis."Your place is not necessarily to risk the firm's status, stature, potential prosperity by making these kinds of statements on ... effectively company letterhead."Robert Carter, an industry adviser with The StratonHunter Group, doubts the company will feel much beyond a short-term blip.Consumers who are loyal to the brand are likely to focus on the product more than his comments, he said, which are unlikely to be viewed as so detrimental that they'll prompt a widespread boycott.On the opposite end, Carter thinks many Canadians are angry at the U.S. for escalating tensions with Iran and are shocked by the subsequent outcome."I think there's a lot of Canadians that will actually stand behind him and ... be proud of the fact that he took the initiative to go out and make these types of comments."That positive bump may too be short lived, noted Anastakis, as consumers can be fickle with their national pride.He recalls a few years prior when Canadians turned on Heinz ketchup after the company moved its manufacturing to the U.S. — an example of "how quickly that kind of economic nationalism around this can dissipate."While the tweets are unusual for a chief executive, they're likely to be viewed as more personal than political, said Burkard Eberlein, a professor at York University's Schulich School of Business.It doesn't include a call for action from the Canadian federal government or any indication that McCain is taking steps to lobby governments to act.It's unlikely that Ottawa will engage with the commentary, he said, or that McCain will follow up with more on this topic."I wouldn't jump to the conclusion: 'Oh, here's a CEO that has decided: I want to become a politically active CEO,'" he said."I think he is very much driven by the sense of grief, and maybe a bit of anger and resentment — seeing it as the outcome of a chain of events that could have been prevented."Maple Leaf Foods shares closed down 24 cents, or 0.96 per cent, at $24.84 on The Toronto Stock Exchange.This report by The Canadian Press was first published Jan. 13, 2020.Companies in this story: (TSX:MFI)Aleksandra Sagan, The Canadian PressNote to readers: This is a corrected story. An earlier version stated that 63 Canadians were on board the flight.
The chief executive of Maple Leaf Foods took to Twitter on Sunday to spout off against the United States government in the wake of an Iranian missile strike on a civilian flight that killed 176 people, including relatives of one of his employees.
While Maple Leaf Foods Inc. (TSE:MFI) shareholders are probably generally happy, the stock hasn't had particularly...
Terms integrate environmental targets with improved financing TORONTO , Dec. 11, 2019 /CNW/ - Maple Leaf Foods, Inc. (TSX: MFI, the "Company") has become the first company in Canada to secure ...
MISSISSAUGA, ON , Dec. 2, 2019 /CNW/ - (MFI.TO) Maple Leaf Foods and the Maple Leaf Centre for Action on Food Security ("the Centre") is pleased to announce the creation of nine new $15,000 scholarships in recognition of the extraordinary contribution of David Emerson , Purdy Crawford and Wallace McCain as past Chairs of the Maple Leaf Foods' Board of Directors. Three scholarships will be distributed each year for three years, beginning in the 2020/2021 academic year.
VANCOUVER , Dec. 2, 2019 /CNW/ - A&W Canada has partnered with Lightlife® ("Lightlife"), to become the first quick-serve restaurant (QSR) in Canada to offer guests a new and exciting menu option: Plant-Based Nuggets! Beginning December 2 , and while supplies last, A&W guests in Ontario and British Columbia can order the crispy, craveable Plant-Based Nuggets, which are made entirely from plant-based ingredients.
It's a Kentucky Fried miracle! Canadian QSR introducing plant-based chicken substitute in limited test release in partnership with Lightlife® VAUGHAN, ON , Nov. 26, 2019 /CNW/ - Today, KFC Canada announced ...
Maple Leaf Foods (TSX:MFI) shares are a screaming buy today. Here's why the protein processor deserves a permanent spot in your portfolio.
Maple Leaf Foods Inc. has reduced its emissions and invested in environmental projects to become carbon neutral in an effort to be the world's most sustainable protein company and meet consumer demand for corporate responsibility on climate change."If you hear some excitement and pride in my voice, you're not mistaken. This is an enormous milestone on our sustainability journey," said Michael McCain, CEO, during a conference call Thursday.The company announced earlier in the day that it believes it is the first major food company in the world to be carbon neutral."I have no doubt that there are some smaller food companies in some corners of the world that have taken this position as well," said McCain. But Maple Leaf believes it's the first of large-scale food enterprises that are publicly traded to achieve this milestone.Since 2015, the company has made significant strides in cutting its environmental footprint in half by 2025 through reducing its electricity intensity by 24 per cent, water intensity by 16 per cent, solid waste intensity by 22 per cent and greenhouse gas emissions intensity by 14 per cent, he said.Maple Leaf also invested in environmental projects in Canada and the United States to help offset the emissions that are beyond its control and it cannot cut.The projects will support wind energy, forest protection and re-forestry, as well as the reduction and recovery of methane gas emissions.These emissions targets and investments come at a cost."Taking care of the planetary needs of the future is not free," said McCain, but the company is banking on it paying off."The investments that we're making are going to drive returns — not just to our business, but to the planet."The company partly made the decision to help fight against climate change, said McCain, because it's clear to Maple Leaf and all its stakeholders that the world is facing a climate crisis."It's a crisis that requires action today."Earlier this week, a scientific journal published an open letter signed by thousands of scientists from around the world, including 409 from Canada, to show a near-unanimous agreement of the climate crisis."We declare ... clearly and unequivocally that planet Earth is facing a climate emergency," the letter opened.Climate protests have ramped up in the past years, most recently with Swedish teen activist Greta Thunberg leading a global strike for climate change in September.Canadians from St. John's to Victoria, and as far north as Inuvik in the Northwest Territories, came out to protest on Sept. 27, calling for immediate government action on climate change.McCain said he's "optimistic" that a significant portion of the public will want to buy food products made by a carbon-neutral company.Increasingly, consumers align themselves with brands behaving responsibly, he said.The company thinks enough of these environmentally conscious shoppers will support Maple Leaf over time to turn this commitment into a good outcome for the company's shareholders as well.This report by The Canadian Press was first published Nov. 7, 2019.Companies in this story: (TSX:MFI)Aleksandra Sagan, The Canadian Press
MISSISSAUGA, ON, Nov. 7, 2019 /CNW/ - (TSX: MFI) – Maple Leaf Foods Inc. ("Maple Leaf" or "the Company") today announced a massive step forward on its sustainability journey, as it becomes the first major food company in the world to be carbon neutral. The Company's announcement acknowledges the impact of the global food system on the environment and the urgent need for transformative change to reduce global greenhouse gas emissions to zero. As a leading North American producer of meat and plant proteins, Maple Leaf's path to carbon neutrality is predicated on aggressively reducing emissions by meeting the gold standard of widely respected Science Based Targets, which align global greenhouse gas emission reductions with the goals of the Paris Agreement on Climate Change.
MISSISSAUGA, ON , Nov. 6, 2019 /CNW/ - Maple Leaf Foods Inc. ("Maple Leaf" or the "Company") (TSX: MFI) today named finance leader Geert Verellen its new Chief Financial Officer, effective ...