Saputo (TSE:SAP) Stock Price Passes Above Two Hundred Day Moving Average of $28.67

Shares of Saputo Inc. (TSE:SAP) crossed 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 traded.

Analyst Upgrades and Downgrades

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

Saputo Trading Up 0.1 %

The company has a quick ratio of 0.67, a current ratio of 1.59 and a debt-to-equity ratio of 53.17. The firm has a market cap of C$12.37 billion, a P/E ratio of 46.25, a price-to-earnings-growth ratio of 0.21 and a beta of 0.33. The firm’s 50-day simple moving average is C$30.46 and its 200 day simple moving average is C$28.68.

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

Saputo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 20th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Tuesday, September 10th. This is an increase from Saputo’s previous quarterly dividend of $0.19. Saputo’s dividend payout ratio (DPR) is 120.63%.

Insiders Place Their Bets

In other Saputo news, Senior Officer Martin Gagnon bought 2,000 shares of Saputo stock in a transaction that occurred on Tuesday, August 20th. The shares were bought at an average price of C$29.73 per share, with a total value of C$59,450.00. In other Saputo news, Senior Officer Martin Gagnon acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were purchased at an average cost of C$29.73 per share, for a total transaction of C$59,450.00. Also, Senior Officer Richard Wallace acquired 4,950 shares of Saputo stock in a transaction on Wednesday, June 26th. The shares were bought at an average cost of C$30.48 per share, for a total transaction of C$150,899.76. Insiders purchased a total of 13,750 shares of company stock valued at $410,474 in the last quarter. Corporate insiders own 42.57% of the company’s stock.

About Saputo

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.