Saputo (TSE:SAP) Posts Earnings Results

Saputo (TSE:SAP) announced its quarterly earnings results on Thursday. The company reported C$0.01 EPS for the quarter, FiscalAI reports. Saputo had a net margin of 3.65% and a return on equity of 9.98%. The firm had revenue of C$4.42 billion during the quarter.

Saputo Stock Performance

SAP traded up C$1.84 during midday trading on Friday, reaching C$40.57. The company had a trading volume of 848,151 shares, compared to its average volume of 967,795. Saputo has a 1 year low of C$30.00 and a 1 year high of C$45.09. The company has a quick ratio of 0.67, a current ratio of 1.71 and a debt-to-equity ratio of 48.08. The company has a market cap of C$16.25 billion, a P/E ratio of 24.89, a P/E/G ratio of 0.56 and a beta of 0.15. The business has a 50-day moving average of C$41.33 and a two-hundred day moving average of C$41.66.

Saputo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 25th were given a $0.20 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. Saputo’s dividend payout ratio is presently 48.47%.

Analysts Set New Price Targets

SAP has been the topic of several research reports. Ventum Capital raised their target price on shares of Saputo from C$47.00 to C$48.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Ventum Financial set a C$47.00 price objective on Saputo and gave the stock a “buy” rating in a report on Wednesday, April 22nd. TD Securities upgraded Saputo to a “strong-buy” rating in a research report on Monday, June 22nd. TD dropped their target price on Saputo from C$52.00 to C$51.00 and set a “buy” rating on the stock in a research report on Monday, June 8th. Finally, National Bank Financial cut their price target on Saputo from C$46.00 to C$44.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$46.73.

Insider Activity

In other Saputo news, Director Maxime Therrien sold 19,601 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of C$42.06, for a total value of C$824,418.06. Following the completion of the transaction, the director directly owned 64,213 shares in the company, valued at C$2,700,798.78. This represents a 23.39% decrease in their position. Also, insider Martin Gagnon sold 26,806 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of C$41.78, for a total transaction of C$1,119,954.68. Following the transaction, the insider owned 31,362 shares of the company’s stock, valued at approximately C$1,310,304.36. This represents a 46.08% decrease in their position. In the last three months, insiders have sold 155,766 shares of company stock valued at $6,525,571. Company insiders own 40.45% of the company’s stock.

Saputo Company Profile

Saputo, one of the top ten dairy processors in the world, produces, markets, and distributes a wide array of dairy products of the utmost quality, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products, and dairy ingredients. Saputo is a leading cheese manufacturer and fluid milk and cream processor in Canada and a leading dairy processor in Australia. In the USA, Saputo ranks among the top three cheese producers and is one of the top producers of extended shelf-life and cultured dairy products.