Saputo (TSE:SAP) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Saputo Inc. (TSE:SAP)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$41.15 and traded as high as C$42.52. Saputo shares last traded at C$42.24, with a volume of 1,456,970 shares trading hands.

Wall Street Analyst Weigh In

SAP has been the topic of several research analyst reports. TD Securities raised their price objective on Saputo from C$51.00 to C$52.00 and gave the company a “buy” rating in a research note on Sunday, February 15th. Scotiabank raised their price objective on Saputo from C$47.00 to C$49.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Desjardins raised their price objective on Saputo from C$45.00 to C$47.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Ventum Financial set a C$47.00 price objective on Saputo and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Finally, National Bank Financial reduced their price objective on Saputo from C$46.00 to C$44.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$46.11.

Saputo Stock Up 1.9%

The stock has a 50 day moving average price of C$41.41 and a 200 day moving average price of C$41.15. The stock has a market capitalization of C$17.12 billion, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 0.56 and a beta of 0.10. The company has a quick ratio of 0.67, a current ratio of 1.64 and a debt-to-equity ratio of 59.15.

Saputo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, March 13th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, March 3rd. Saputo’s dividend payout ratio (DPR) is presently 50.00%.

Saputo Company Profile

Saputo is a global dairy processor domiciled in Canada (28% of fiscal 2022 sales) with operations in the United States (43%), the U.K. (6%), and other international markets (23%). It sells cheese, cream, fluid milk, and other dairy products. In the retail segment (50% of revenue), its mix of brands include Saputo, Armstrong, Cheer, Cathedral City, and Frylight. Saputo also competes in food service (30% of revenue) and industrials (20% of revenue), which houses its ingredients business.