Saputo (TSE:SAP) Reaches New 52-Week High After Analyst Upgrade

Saputo Inc. (TSE:SAP)’s stock price hit a new 52-week high during mid-day trading on Friday after Royal Bank Of Canada raised their price target on the stock from C$35.00 to C$37.00. Royal Bank Of Canada currently has an outperform rating on the stock. Saputo traded as high as C$32.04 and last traded at C$32.00, with a volume of 1155133 shares traded. The stock had previously closed at C$29.38.

A number of other analysts have also weighed in on SAP. Scotiabank cut their target price on shares of Saputo from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a research note on Monday, June 9th. National Bankshares upped their target price on shares of Saputo from C$28.00 to C$29.00 and gave the stock an “outperform” rating in a research note on Monday, June 9th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$31.13.

Saputo Trading Up 8.9%

The firm has a market cap of C$13.49 billion, a PE ratio of -85.68, a PEG ratio of 0.56 and a beta of 0.32. The business has a 50-day moving average price of C$27.77 and a two-hundred day moving average price of C$26.14. The company has a debt-to-equity ratio of 51.68, a current ratio of 1.53 and a quick ratio of 0.67.

Saputo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 26th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Tuesday, June 17th. Saputo’s dividend payout ratio (DPR) is currently -203.48%.

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.