Saputo (TSE:SAP) Price Target Raised to C$44.00

Saputo (TSE:SAP) had its target price boosted by TD Securities from C$38.00 to C$44.00 in a research report sent to investors on Monday morning,BayStreet.CA reports.

A number of other research firms have also weighed in on SAP. Royal Bank Of Canada lifted their target price on Saputo from C$35.00 to C$37.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Scotiabank raised their price objective on shares of Saputo from C$36.00 to C$37.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. BMO Capital Markets upped their target price on shares of Saputo from C$34.00 to C$37.00 in a report on Monday. CIBC raised their price target on shares of Saputo from C$36.00 to C$40.00 in a report on Monday. Finally, National Bankshares boosted their price target on shares of Saputo from C$36.00 to C$38.00 in a research report on Monday. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$38.63.

Saputo Price Performance

Shares of TSE SAP opened at C$37.36 on Monday. The company has a debt-to-equity ratio of 51.68, a quick ratio of 0.67 and a current ratio of 1.53. Saputo has a fifty-two week low of C$22.59 and a fifty-two week high of C$37.39. The stock has a market cap of C$15.32 billion, a PE ratio of -109.88, a price-to-earnings-growth ratio of 0.56 and a beta of 0.07. The stock has a fifty day moving average of C$34.07 and a 200-day moving average of C$30.42.

Saputo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, September 12th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.1%. This is a boost from Saputo’s previous quarterly dividend of $0.19. Saputo’s dividend payout ratio is presently -223.53%.

Insider Activity at Saputo

In related news, insider Leanne Cutts acquired 4,000 shares of the stock in a transaction dated Friday, August 15th. The shares were purchased at an average price of C$32.93 per share, for a total transaction of C$131,720.00. Following the transaction, the insider owned 23,500 shares in the company, valued at C$773,855. This represents a 20.51% increase in their position. 40.45% of the stock is owned by insiders.

About Saputo

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.