Saputo (TSE:SAP) Reaches New 12-Month High – Should You Buy?

Saputo Inc. (TSE:SAP) hit a new 52-week high during trading on Wednesday . The company traded as high as C$38.53 and last traded at C$38.39, with a volume of 906557 shares changing hands. The stock had previously closed at C$38.04.

Analysts Set New Price Targets

Several brokerages recently weighed in on SAP. National Bankshares increased their price target on shares of Saputo from C$36.00 to C$38.00 in a report on Monday, November 10th. TD Securities increased their price objective on shares of Saputo from C$38.00 to C$44.00 in a research note on Monday, November 10th. Scotiabank raised their target price on shares of Saputo from C$36.00 to C$37.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Royal Bank Of Canada boosted their target price on shares of Saputo from C$35.00 to C$37.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Finally, Desjardins upped their price target on shares of Saputo from C$31.00 to C$36.00 and gave the company a “buy” rating in a report on Monday, August 11th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$38.63.

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 firm’s fifty day moving average price is C$34.35 and its two-hundred day moving average price is C$30.78. The stock has a market capitalization of C$15.97 billion, a PE ratio of -191.95, a price-to-earnings-growth ratio of 0.56 and a beta of 0.07.

Saputo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, September 12th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Saputo’s previous quarterly dividend of $0.19. The ex-dividend date was Tuesday, September 2nd. Saputo’s payout ratio is currently -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.