Saputo (TSE:SAP) Stock Passes Above 200-Day Moving Average of $28.67

Saputo Inc. (TSE:SAP) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$28.67 and traded as high as C$29.32. Saputo shares last traded at C$29.11, with a volume of 422,404 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SAP. BMO Capital Markets boosted their target price on Saputo from C$34.00 to C$35.00 and gave the company an “outperform” rating in a report on Monday, June 10th. CIBC reduced their price objective on Saputo from C$37.00 to C$35.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Royal Bank of Canada raised their target price on shares of Saputo from C$36.00 to C$39.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 4th. TD Securities upped their price target on shares of Saputo from C$36.00 to C$37.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, Desjardins raised their price objective on shares of Saputo from C$33.00 to C$35.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, Saputo currently has a consensus rating of “Buy” and a consensus price target of C$35.50.

Saputo Price Performance

The company has a debt-to-equity ratio of 53.17, a current ratio of 1.59 and a quick ratio of 0.67. The company has a 50 day moving average price of C$30.51 and a 200 day moving average price of C$28.67. The firm has a market cap of C$12.35 billion, a PE ratio of 46.21, a PEG ratio of 0.21 and a beta of 0.33.

Saputo (TSE:SAP) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.39 EPS for the quarter, topping analysts’ consensus estimates of C$0.37 by C$0.02. The company had revenue of C$4.61 billion during the quarter, compared to the consensus estimate of C$4.44 billion. Saputo had a net margin of 1.50% and a return on equity of 3.72%. Sell-side analysts expect that Saputo Inc. will post 1.8087698 EPS for the current fiscal year.

Saputo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 20th will be given a $0.19 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.76 dividend on an annualized basis and a yield of 2.61%. This is an increase from Saputo’s previous quarterly dividend of $0.19. Saputo’s dividend payout ratio (DPR) is presently 120.63%.

Insider Buying and Selling at Saputo

In other Saputo news, Senior Officer Martin Gagnon acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were purchased at an average price of C$29.73 per share, with a total value of C$59,450.00. In related news, Senior Officer Martin Gagnon acquired 2,000 shares of Saputo stock in a transaction that occurred on Tuesday, August 20th. The stock was purchased at an average price of C$29.73 per share, for a total transaction of C$59,450.00. Also, Senior Officer Carl Colizza acquired 6,800 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average cost of C$29.43 per share, for a total transaction of C$200,124.00. In the last 90 days, insiders have acquired 13,750 shares of company stock valued at $410,474. 42.57% of the stock is owned by corporate insiders.

Saputo Company Profile

Saputo Inc produces, markets, and distributes dairy products in Canada, the United States, Argentina, Australia, and the United Kingdom. The company offers cheeses, including mozzarella and cheddar; specialty cheeses, such as ricotta, provolone, blue, parmesan, goat cheese, feta, romano, and havarti; fine cheeses comprising brie and camembert; and other cheeses that include brick, colby, farmer, munster, monterey jack, fresh curd, and processed cheeses.