Saputo (TSE:SAP) Insider Leanne Cutts Acquires 4,000 Shares

Key Points

• Leanne Cutts, an insider at Saputo, purchased 4,000 shares at C$32.93 each, increasing her ownership by 20.51% and bringing her total shares to 23,500.
• Saputo recently announced a quarterly dividend of $0.20 per share, up from the previous $0.19, with an annualized yield of 2.3%.
• Analysts have generally rated the stock as a Moderate Buy, with several increasing their price targets to a range of C$34.00 to C$38.00.

Saputo Inc. (TSE:SAP - Get Free Report) insider Leanne Cutts purchased 4,000 shares of the business's stock in a transaction on Friday, August 15th. The shares were bought at an average price of C$32.93 per share, for a total transaction of C$131,720.00. Following the acquisition, the insider owned 23,500 shares in the company, valued at C$773,855. This trade represents a 20.51% increase in their ownership of the stock.

Saputo Stock Down 0.8%

TSE SAP traded down C$0.28 during trading hours on Friday, hitting C$34.00. 657,009 shares of the company were exchanged, compared to its average volume of 688,813. The company has a 50 day moving average of C$31.16 and a two-hundred day moving average of C$27.79. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 51.68. Saputo Inc. has a 52-week low of C$22.59 and a 52-week high of C$34.75. The firm has a market cap of C$14.01 billion, a price-to-earnings ratio of -100.00, a PEG ratio of 0.56 and a beta of 0.07.

Saputo Increases Dividend

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

Analyst Ratings Changes

A number of research firms have recently commented on SAP. Scotiabank increased their price objective on Saputo from C$29.00 to C$36.00 and gave the company an "outperform" rating in a report on Monday, August 11th. Desjardins increased their price objective on Saputo from C$31.00 to C$36.00 and gave the company a "buy" rating in a report on Monday, August 11th. Royal Bank Of Canada increased their price objective on Saputo from C$35.00 to C$37.00 and gave the company an "outperform" rating in a report on Friday, August 8th. TD Securities increased their price objective on Saputo from C$35.00 to C$38.00 and gave the company a "buy" rating in a report on Monday, August 11th. Finally, BMO Capital Markets increased their price objective on Saputo from C$27.00 to C$34.00 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 MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$34.63.

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.