Saputo (TSE:SAP) Insider Leanne Cutts Acquires 4,000 Shares

Saputo Inc. (TSE:SAP) insider Leanne Cutts purchased 4,000 shares of Saputo stock in a transaction dated Friday, August 15th. The shares were purchased at an average cost 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 approximately C$773,855. This trade represents a 20.51% increase in their position.

Saputo Trading Down 0.1%

SAP opened at C$34.21 on Wednesday. The company has a debt-to-equity ratio of 51.68, a quick ratio of 0.67 and a current ratio of 1.53. The stock has a market capitalization of C$14.10 billion, a PE ratio of -100.62, a P/E/G ratio of 0.56 and a beta of 0.07. The business’s 50 day moving average price is C$30.76 and its 200 day moving average price is C$27.61. Saputo Inc. has a one year low of C$22.59 and a one year high of C$34.75.

Saputo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, September 12th will be given a dividend of $0.20 per share. This is a boost from Saputo’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. Saputo’s dividend payout ratio is currently -223.53%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SAP. Desjardins increased their price target on shares of Saputo from C$31.00 to C$36.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Scotiabank increased their price target on shares of Saputo from C$29.00 to C$36.00 and gave the stock an “outperform” rating in a research report on Monday, August 11th. National Bankshares raised their target price on shares of Saputo from C$29.00 to C$35.00 and gave the company an “outperform” rating in a report on Monday, August 11th. TD Securities raised their target price on shares of Saputo from C$35.00 to C$38.00 and gave the company a “buy” rating in a report on Monday, August 11th. Finally, Royal Bank Of Canada raised their target price on shares of Saputo from C$35.00 to C$37.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$34.63.

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.