Saputo (TSE:SAP) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Shares of Saputo Inc. (TSE:SAP) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$26.23 and traded as high as C$32.91. Saputo shares last traded at C$32.07, with a volume of 862,474 shares trading hands.

Analysts Set New Price Targets

SAP has been the topic of a number of analyst reports. Scotiabank boosted their price objective on shares of Saputo from C$29.00 to C$36.00 and gave the company an “outperform” rating in a research report on Monday. National Bankshares boosted their price objective on shares of Saputo from C$29.00 to C$35.00 and gave the company an “outperform” rating in a research report on Monday. Desjardins boosted their price target on shares of Saputo from C$31.00 to C$36.00 and gave the company a “buy” rating in a research report on Monday. TD Securities boosted their price target on shares of Saputo from C$35.00 to C$38.00 and gave the company a “buy” rating in a research report on Monday. Finally, BMO Capital Markets boosted their price target on shares of Saputo from C$27.00 to C$34.00 in a research report on Monday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$34.63.

Saputo Trading Up 0.2%

The firm has a market cap of C$13.52 billion, a PE ratio of -85.86, a PEG ratio of 0.56 and a beta of 0.32. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 51.68. The stock’s fifty day simple moving average is C$27.87 and its two-hundred day simple moving average is C$26.23.

Saputo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 26th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Tuesday, June 17th. Saputo’s dividend payout ratio is -203.48%.

Saputo Company Profile

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.