Saputo (TSE:SAP) Given New C$38.00 Price Target at Royal Bank of Canada

Saputo (TSE:SAP) had its target price reduced by Royal Bank of Canada from C$39.00 to C$38.00 in a research report report published on Tuesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Other analysts have also issued reports about the company. National Bankshares dropped their target price on Saputo from C$36.00 to C$35.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. CIBC cut their target price on shares of 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 downgraded shares of Saputo from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from C$35.00 to C$30.00 in a report on Tuesday, October 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Saputo currently has an average rating of “Moderate Buy” and a consensus price target of C$34.64.

Saputo Stock Performance

SAP opened at C$26.76 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 0.67 and a debt-to-equity ratio of 53.17. Saputo has a 12-month low of C$25.28 and a 12-month high of C$32.15. The firm has a 50 day moving average of C$29.03 and a two-hundred day moving average of C$29.00. The firm has a market capitalization of C$11.36 billion, a PE ratio of 42.48, a P/E/G ratio of 0.56 and a beta of 0.32.

Saputo (TSE:SAP) last issued its earnings results on Thursday, August 8th. The company reported C$0.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of C$4.61 billion during the quarter, compared to analysts’ expectations of C$4.44 billion. On average, analysts anticipate that Saputo will post 1.7735369 EPS for the current year.

Saputo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 20th were given a $0.19 dividend. This is a positive change from Saputo’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $0.76 annualized dividend and a dividend yield of 2.84%. Saputo’s dividend payout ratio (DPR) is 120.63%.

Insider Buying and Selling

In other news, Senior Officer Martin Gagnon acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were bought at an average cost of C$29.73 per share, for a total transaction of C$59,450.00. In other news, Senior Officer Carl Colizza acquired 6,800 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of C$29.43 per share, for a total transaction of C$200,124.00. Also, Senior Officer Martin Gagnon bought 2,000 shares of the stock in a transaction on Tuesday, August 20th. The shares were acquired at an average cost of C$29.73 per share, for a total transaction of C$59,450.00. Insiders own 40.45% 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.