Saputo (TSE:SAP) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Saputo Inc. (TSE:SAP)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$28.77 and traded as high as C$33.81. Saputo shares last traded at C$33.59, with a volume of 357,292 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SAP. Scotiabank boosted their target price on shares of Saputo from C$29.00 to C$36.00 and gave the stock an “outperform” rating in a report on Monday, August 11th. National Bankshares boosted their target price on shares of Saputo from C$29.00 to C$35.00 and gave the stock an “outperform” rating in a report on Monday, August 11th. Desjardins boosted their target price on shares of Saputo from C$31.00 to C$36.00 and gave the stock a “buy” rating in a report on Monday, August 11th. TD Securities boosted their target price on shares of Saputo from C$35.00 to C$38.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Finally, BMO Capital Markets boosted their target price on shares of Saputo from C$27.00 to C$34.00 in a report on Monday, August 11th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Saputo presently has a consensus rating of “Moderate Buy” and an average target price of C$34.63.

Saputo Stock Performance

The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 51.68. The business’s 50 day moving average is C$32.98 and its 200 day moving average is C$28.77. The stock has a market capitalization of C$13.84 billion, a PE ratio of -98.79, a PEG ratio of 0.56 and a beta of 0.07.

Saputo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, September 12th were paid a $0.20 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.4%. This is an increase from Saputo’s previous quarterly dividend of $0.19. Saputo’s payout ratio is currently -223.53%.

Insider Buying and Selling

In related news, insider Leanne Cutts bought 4,000 shares of the company’s stock in a transaction on Friday, August 15th. The shares were acquired at an average cost of C$32.93 per share, for a total transaction of C$131,720.00. Following the purchase, the insider directly owned 23,500 shares of the company’s stock, valued at approximately C$773,855. The trade was a 20.51% increase in their ownership of the stock. 40.45% of the stock is owned by corporate insiders.

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.