Saputo (TSE:SAP) Given New C$31.00 Price Target at Desjardins

Saputo (TSE:SAP) had its target price cut by Desjardins from C$34.00 to C$31.00 in a research note issued to investors on Monday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada reduced their target price on shares of Saputo from C$38.00 to C$35.00 and set an “outperform” rating for the company in a report on Friday. BMO Capital Markets reduced their target price on shares of Saputo from C$30.00 to C$27.00 and set a “market perform” rating for the company in a report on Friday, January 10th. TD Securities reduced their target price on shares of Saputo from C$38.00 to C$37.00 in a report on Monday, November 11th. Jefferies Financial Group reduced their target price on shares of Saputo from C$36.00 to C$32.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Finally, National Bankshares cut their price target on shares of Saputo from C$31.00 to C$28.00 in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$31.44.

Saputo Stock Performance

TSE SAP opened at C$24.14 on Monday. The company has a debt-to-equity ratio of 53.17, a current ratio of 1.59 and a quick ratio of 0.67. Saputo has a 1 year low of C$22.59 and a 1 year high of C$32.15. The company has a market capitalization of C$10.24 billion, a PE ratio of 38.32, a P/E/G ratio of 0.56 and a beta of 0.32. The company has a fifty day moving average of C$24.73 and a two-hundred day moving average of C$27.45.

Saputo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.76 annualized dividend and a dividend yield of 3.15%. Saputo’s dividend payout ratio is presently 120.63%.

Insider Activity

In other Saputo news, Senior Officer Leanne Cutts purchased 4,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were acquired at an average cost of C$26.25 per share, for a total transaction of C$105,000.00. Company insiders own 40.45% of the company’s stock.

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.