Saputo (TSE:SAP) Share Price Passes Above 200 Day Moving Average of $28.57

Saputo Inc. (TSE:SAP)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$28.57 and traded as high as C$30.00. Saputo shares last traded at C$29.76, with a volume of 504,135 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SAP shares. BMO Capital Markets upped their target price 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. CIBC lowered their price target on Saputo from C$37.00 to C$35.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. TD Securities boosted their price target on Saputo from C$36.00 to C$37.00 and gave the company a “buy” rating in a research report on Monday, June 10th. National Bankshares lowered their price target on Saputo from C$36.00 to C$35.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Finally, Royal Bank of Canada boosted their price target on Saputo from C$36.00 to C$39.00 and gave the company an “outperform” rating in a research report on Tuesday, June 4th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$35.50.

Saputo Price Performance

The company has a 50-day moving average price of C$30.80 and a two-hundred day moving average price of C$28.58. The company has a debt-to-equity ratio of 53.17, a current ratio of 1.59 and a quick ratio of 0.67. The company has a market cap of C$12.60 billion, a PE ratio of 47.14, a P/E/G ratio of 0.21 and a beta of 0.33.

Saputo (TSE:SAP) last issued its earnings results on Thursday, August 8th. The company reported C$0.39 earnings per share for the quarter, topping the consensus estimate of C$0.37 by C$0.02. Saputo had a return on equity of 3.72% and a net margin of 1.50%. The company had revenue of C$4.61 billion during the quarter, compared to the consensus estimate of C$4.44 billion. Sell-side analysts expect that Saputo Inc. will post 1.8075995 earnings per share for the current fiscal year.

Saputo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 20th will be given a $0.19 dividend. This is an increase from Saputo’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, September 10th. This represents a $0.76 annualized dividend and a dividend yield of 2.56%. Saputo’s dividend payout ratio is presently 120.63%.

Insider Transactions at Saputo

In other Saputo news, Senior Officer Sindy Saragoca purchased 1,361 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average price of C$29.39 per share, for a total transaction of C$39,999.79. In other Saputo news, Senior Officer Martin Gagnon purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were acquired at an average price of C$29.73 per share, for a total transaction of C$59,450.00. Also, Senior Officer Sindy Saragoca purchased 1,361 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was acquired at an average price of C$29.39 per share, for a total transaction of C$39,999.79. Insiders purchased 15,111 shares of company stock valued at $450,474 over the last quarter. Company insiders own 42.57% of the company’s stock.

Saputo Company Profile

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.