Saputo (TSE:SAP) Sets New 12-Month High – Here’s What Happened

Shares of Saputo Inc. (TSE:SAP) reached a new 52-week high during trading on Thursday . The stock traded as high as C$37.39 and last traded at C$37.36, with a volume of 1035979 shares traded. The stock had previously closed at C$36.92.

Analyst Ratings Changes

Several research firms recently weighed in on SAP. TD Securities raised their target price on shares of Saputo from C$38.00 to C$44.00 in a research note on Monday. Royal Bank Of Canada boosted their price target on shares of Saputo from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. BMO Capital Markets increased their price objective on shares of Saputo from C$34.00 to C$37.00 in a report on Monday. Scotiabank raised their price objective on Saputo from C$36.00 to C$37.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group lifted their target price on Saputo from C$38.00 to C$40.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$38.63.

Saputo Trading Up 1.2%

The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 51.68. The stock’s 50 day moving average is C$34.07 and its 200-day moving average is C$30.42. The company has a market cap of C$15.32 billion, a PE ratio of -109.88, a P/E/G ratio of 0.56 and a beta of 0.07.

Saputo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, September 12th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. This is a positive change from Saputo’s previous quarterly dividend of $0.19. Saputo’s dividend payout ratio is currently -223.53%.

Insider Activity at Saputo

In related news, insider Leanne Cutts purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was bought at an average price of C$32.93 per share, for a total transaction of C$131,720.00. Following the completion of the transaction, the insider owned 23,500 shares in the company, valued at approximately C$773,855. The trade was a 20.51% increase in their position. Insiders own 40.45% of the company’s stock.

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.