Saputo (TSE:SAP) Price Target Raised to C$36.00

Saputo (TSE:SAP) had its target price lifted by Scotiabank from C$29.00 to C$36.00 in a report released on Monday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other equities analysts also recently issued reports on SAP. BMO Capital Markets lifted their price objective on Saputo from C$27.00 to C$34.00 in a research report on Monday. Royal Bank Of Canada lifted their price objective on Saputo from C$35.00 to C$37.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. TD Securities lifted their target price on Saputo from C$35.00 to C$38.00 and gave the company a “buy” rating in a research note on Monday. National Bankshares lifted their target price on Saputo from C$29.00 to C$35.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Desjardins lifted their target price on Saputo from C$31.00 to C$36.00 and gave the company a “buy” rating in a research note on Monday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$34.63.

Saputo Trading Up 1.5%

Shares of SAP opened at C$33.07 on Monday. The stock has a fifty day moving average price of C$28.12 and a two-hundred day moving average price of C$26.32. The company has a debt-to-equity ratio of 51.68, a quick ratio of 0.67 and a current ratio of 1.53. Saputo has a 52-week low of C$22.59 and a 52-week high of C$33.26. The company has a market cap of C$13.94 billion, a price-to-earnings ratio of -88.54, a PEG ratio of 0.56 and a beta of 0.32.

Saputo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 26th were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, June 17th. This represents a $0.76 annualized dividend and a yield of 2.3%. Saputo’s payout ratio is currently -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.