Saputo Inc. (SAP) Given New C$52.00 Price Target at Scotiabank
Saputo Inc. (TSE:SAP) had its price objective raised by equities researchers at Scotiabank from C$44.00 to C$52.00 in a research report issued to clients and investors on Thursday, StockTargetPrices.com reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 13.61% from the stock’s current price.
A number of other brokerages have also weighed in on SAP. Desjardins boosted their target price on shares of Saputo from C$38.00 to C$40.00 and gave the company a “hold” rating in a research note on Friday, June 3rd. National Bank Financial boosted their price objective on shares of Saputo from C$41.00 to C$42.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 3rd. Royal Bank Of Canada boosted their price objective on shares of Saputo from C$44.00 to C$45.00 and gave the company a “sector perform” rating in a research report on Thursday, August 4th. CIBC boosted their price objective on shares of Saputo from C$44.00 to C$45.00 in a research report on Wednesday, August 3rd. Finally, TD Securities reissued a “hold” rating and set a C$42.00 price objective on shares of Saputo in a research report on Friday, July 29th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of C$45.43.
Saputo (TSE:SAP) traded up 1.59% during midday trading on Thursday, reaching $46.50. The company’s stock had a trading volume of 128,099 shares. The firm has a market cap of $18.27 billion and a P/E ratio of 28.88. Saputo has a one year low of $28.70 and a one year high of $46.54. The firm has a 50 day moving average price of $43.38 and a 200 day moving average price of $40.64.
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The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Tuesday, September 6th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.60 annualized dividend and a yield of 1.31%. This is an increase from Saputo’s previous quarterly dividend of $0.14.
Saputo Company Profile
Saputo Inc is a Canada-based dairy processor and cheese producer in the United States. Saputo produces, markets, and distributes a variety of dairy products, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products and dairy ingredients. Its products are sold in 40 countries under brand names such as Saputo, Alexis de Portneuf, Armstrong, Baxter, Dairyland, Dragone, DuVillage 1860, Friendship, Frigo Cheese Heads, Great Midwest, King’s Choice, Kingsey, La Paulina, Milk2Go, Neilson, Nutrilait, Ricrem, Salemville, Scotsburn4, Stella, Sungold and Treasure Cave.
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