Saputo (TSE:SAP) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Saputo Inc. (TSE:SAP) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$40.88 and traded as high as C$41.94. Saputo shares last traded at C$41.85, with a volume of 808,857 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada lifted their price target on Saputo from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Sunday, February 8th. Canadian Imperial Bank of Commerce lifted their price target on Saputo from C$40.00 to C$44.00 in a research report on Friday, January 30th. TD Securities lifted their price target on Saputo from C$51.00 to C$52.00 and gave the stock a “buy” rating in a research report on Sunday, February 15th. BMO Capital Markets lifted their price target on Saputo from C$41.00 to C$42.00 and gave the stock a “market perform” rating in a research report on Monday, February 9th. Finally, Desjardins lifted their price target on Saputo from C$45.00 to C$47.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$46.11.

Saputo Price Performance

The firm has a fifty day moving average of C$41.51 and a 200 day moving average of C$40.89. The company has a market capitalization of C$16.86 billion, a P/E ratio of 26.67, a P/E/G ratio of 0.56 and a beta of 0.10. The company has a current ratio of 1.64, a quick ratio of 0.67 and a debt-to-equity ratio of 59.15.

Saputo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, March 13th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.9%. The ex-dividend date was Tuesday, March 3rd. Saputo’s dividend payout ratio (DPR) is presently 50.00%.

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. Saputo also competes in food service (30% of revenue) and industrials (20% of revenue), which houses its ingredients business.