Saputo (TSE:SAP) Reaches New 52-Week High – Here’s Why

Saputo Inc. (TSE:SAP)’s stock price hit a new 52-week high on Thursday . The stock traded as high as C$42.15 and last traded at C$41.95, with a volume of 287655 shares traded. The stock had previously closed at C$41.08.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. TD Securities raised their target price on shares of Saputo from C$44.00 to C$49.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Desjardins increased their target price on Saputo from C$40.00 to C$45.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Jefferies Financial Group boosted their price objective on Saputo from C$38.00 to C$40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. CIBC boosted their price target on shares of Saputo from C$36.00 to C$40.00 in a research report on Monday, November 10th. Finally, National Bankshares upped their target price on Saputo from C$36.00 to C$38.00 in a report on Monday, November 10th. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$40.38.

Saputo Stock Up 2.4%

The stock has a market capitalization of C$17.24 billion, a price-to-earnings ratio of -210.25, a P/E/G ratio of 0.56 and a beta of 0.18. The business has a 50-day moving average of C$39.60 and a 200-day moving average of C$34.68. 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 (TSE:SAP) last announced its earnings results on Thursday, November 6th. The company reported C$0.45 earnings per share for the quarter. Saputo had a negative net margin of 0.84% and a negative return on equity of 2.20%. The company had revenue of C$4.72 billion during the quarter. On average, sell-side analysts expect that Saputo Inc. will post 1.7735369 EPS for the current year.

Saputo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, December 12th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, December 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. Saputo’s payout ratio is presently -385.00%.

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.