Saputo (TSE:SAP) Stock Crosses Above 200-Day Moving Average of $28.76

Saputo Inc. (TSE:SAP) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$28.76 and traded as high as C$29.29. Saputo shares last traded at C$28.93, with a volume of 273,614 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. 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. National Bankshares dropped their price objective on Saputo from C$36.00 to C$35.00 and set an “outperform” rating for the company in a report on Monday, August 12th. TD Securities lifted their price objective on Saputo from C$36.00 to C$37.00 and gave the company a “buy” rating in a report on Monday, June 10th. CIBC dropped their price objective on Saputo from C$37.00 to C$35.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Finally, BMO Capital Markets lifted their price target on Saputo from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research note on Monday, June 10th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Saputo has a consensus rating of “Buy” and an average price target of C$35.50.

Saputo Price Performance

The firm has a market cap of C$12.28 billion, a P/E ratio of 45.92, a price-to-earnings-growth ratio of 0.21 and a beta of 0.33. The company has a current ratio of 1.59, a quick ratio of 0.67 and a debt-to-equity ratio of 53.17. The business has a 50-day moving average of C$30.27 and a two-hundred day moving average of C$28.76.

Saputo (TSE:SAP) last issued its quarterly earnings data on Thursday, August 8th. The company reported C$0.39 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.37 by C$0.02. The business had revenue of C$4.61 billion for the quarter, compared to analyst estimates of C$4.44 billion. Saputo had a return on equity of 3.72% and a net margin of 1.50%. On average, sell-side analysts anticipate that Saputo Inc. will post 1.8099379 earnings per share for the current fiscal year.

Saputo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 20th were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, September 10th. This represents a $0.76 dividend on an annualized basis and a yield of 2.63%. This is a positive change from Saputo’s previous quarterly dividend of $0.19. Saputo’s payout ratio is currently 120.63%.

Insider Buying and Selling

In related news, Senior Officer Martin Gagnon purchased 2,000 shares of Saputo stock in a transaction on Tuesday, August 20th. The shares were purchased at an average price of C$29.73 per share, for a total transaction of C$59,450.00. In related news, Senior Officer Martin Gagnon purchased 2,000 shares of Saputo stock in a transaction on Tuesday, August 20th. The shares were 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 purchased 6,800 shares of Saputo stock in a transaction on Tuesday, August 13th. The stock was bought at an average price of C$29.43 per share, for a total transaction of C$200,124.00. 42.57% of the stock is currently owned by corporate insiders.

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.