Saputo (TSE:SAP) Price Target Cut to C$44.00 by Analysts at National Bank Financial

Saputo (TSE:SAP) had its price target reduced by National Bank Financial from C$46.00 to C$44.00 in a report published on Wednesday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other research analysts also recently commented on SAP. Desjardins lifted their price target on Saputo from C$45.00 to C$47.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. BMO Capital Markets boosted their price objective on Saputo from C$41.00 to C$42.00 and gave the company a “market perform” rating in a research report on Monday, February 9th. Ventum Financial set a C$47.00 price objective on Saputo and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Canadian Imperial Bank of Commerce boosted their price objective on Saputo from C$40.00 to C$44.00 in a research report on Friday, January 30th. Finally, TD Securities boosted their price objective on Saputo from C$51.00 to C$52.00 and gave the company a “buy” rating in a research report on Sunday, February 15th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$46.11.

Saputo Stock Performance

Shares of TSE SAP opened at C$40.51 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 1.64 and a debt-to-equity ratio of 59.15. The business’s 50 day moving average is C$42.01 and its two-hundred day moving average is C$40.38. The company has a market cap of C$16.42 billion, a P/E ratio of 25.97, a P/E/G ratio of 0.56 and a beta of 0.10. Saputo has a 12 month low of C$25.17 and a 12 month high of C$45.09.

Saputo (TSE:SAP) last issued its quarterly earnings results on Thursday, February 5th. The company reported C$0.57 EPS for the quarter. The company had revenue of C$4.89 billion for the quarter. Saputo had a return on equity of 9.50% and a net margin of 3.39%. On average, equities analysts expect that Saputo will post 1.7735369 EPS for the current year.

Saputo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, March 13th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.0%. Saputo’s payout ratio is currently 50.00%.

Insider Activity

In other news, insider Patrick Turcotte sold 2,071 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of C$42.18, for a total transaction of C$87,354.78. Following the sale, the insider directly owned 8,336 shares in the company, valued at approximately C$351,612.48. The trade was a 19.90% decrease in their ownership of the stock. Insiders sold 2,659 shares of company stock worth $112,169 in the last quarter. Insiders own 40.45% of the company’s stock.

About Saputo

Saputo is a global dairy processor domiciled in Canada (28% of fiscal 2022 sales) with operations in the United States (43%), the U.K. (6%), and other international markets (23%). It sells cheese, cream, fluid milk, and other dairy products. In the retail segment (50% of revenue), its mix of brands include Saputo, Armstrong, Cheer, Cathedral City, and Frylight. Saputo also competes in food service (30% of revenue) and industrials (20% of revenue), which houses its ingredients business.