Analysts Set Saputo Inc. (TSE:SAP) Target Price at C$34.63

Shares of Saputo Inc. (TSE:SAP) have earned a consensus rating of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$34.63.

A number of research firms have commented on SAP. National Bankshares raised their price target on shares of Saputo from C$29.00 to C$35.00 and gave the stock an “outperform” rating in a report on Monday, August 11th. Desjardins raised their target price on Saputo from C$31.00 to C$36.00 and gave the company a “buy” rating in a research note on Monday, August 11th. BMO Capital Markets upped their price target on Saputo from C$27.00 to C$34.00 in a research note on Monday, August 11th. Scotiabank increased their price target on Saputo from C$29.00 to C$36.00 and gave the stock an “outperform” rating in a report on Monday, August 11th. Finally, TD Securities boosted their price objective on Saputo from C$35.00 to C$38.00 and gave the company a “buy” rating in a report on Monday, August 11th.

Insider Transactions at Saputo

In related news, insider Leanne Cutts acquired 4,000 shares of the stock in a transaction dated Friday, August 15th. The stock was purchased at an average cost of C$32.93 per share, with a total value of C$131,720.00. Following the completion of the purchase, the insider directly owned 23,500 shares in the company, valued at C$773,855. This trade represents a 20.51% increase in their position. Company insiders own 40.45% of the company’s stock.

Saputo Stock Performance

Shares of SAP stock opened at C$33.25 on Monday. The firm has a 50 day moving average of C$32.11 and a 200-day moving average of C$28.22. The company has a market cap of C$13.70 billion, a price-to-earnings ratio of -97.79, a price-to-earnings-growth ratio of 0.56 and a beta of 0.07. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 51.68. Saputo has a 52 week low of C$22.59 and a 52 week high of C$34.75.

Saputo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, September 12th were issued a dividend of $0.20 per share. This is an increase from Saputo’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. Saputo’s dividend payout ratio is -223.53%.

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.