Saputo Inc. (SAP) PT Raised to C$52.00 at Scotiabank
Saputo Inc. (TSE:SAP) had its price target increased by research analysts at Scotiabank from C$44.00 to C$52.00 in a report issued on Thursday. The firm presently has an “outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 13.61% from the company’s previous close.
A number of other research firms have also weighed in on SAP. National Bank Financial increased their target price on shares of Saputo from C$41.00 to C$42.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 3rd. CIBC increased their price target on shares of Saputo from C$40.00 to C$44.00 in a research note on Friday, June 3rd. Desjardins raised 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. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a C$42.00 target price on shares of Saputo in a research note on Friday, June 3rd. Finally, RBC Capital Markets raised their target price on shares of Saputo from C$44.00 to C$45.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 3rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of C$45.43.
Shares of Saputo (TSE:SAP) traded up 1.59% during mid-day trading on Thursday, hitting $46.50. The stock had a trading volume of 122,999 shares. The stock’s 50-day moving average is $43.38 and its 200 day moving average is $40.64. Saputo has a 1-year low of $28.70 and a 1-year high of $46.54. The firm has a market capitalization of $18.27 billion and a price-to-earnings ratio of 28.88.
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The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Tuesday, September 6th were issued a $0.15 dividend. This is an increase from Saputo’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Thursday, September 1st.
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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