Saputo Inc. (TSE:SAP) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Saputo Inc. has received a consensus rating of "Moderate Buy" from seven research firms, with an average target price of C$34.75.
• Several analysts have raised their target prices for the stock, with TD Securities increasing their target from C$35.00 to C$38.00.
• The company recently boosted its quarterly dividend to $0.20, reflecting a 2.4% dividend yield and an increase from the previous quarter's dividend of $0.19.

Saputo Inc. (TSE:SAP - Get Free Report) has received an average rating of "Moderate Buy" from the seven research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$34.75.

Several analysts have issued reports on SAP shares. TD Securities boosted 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, August 11th. Scotiabank lifted their price target on Saputo from C$36.00 to C$37.00 and gave the company an "outperform" rating in a research report on Wednesday, October 8th. Royal Bank Of Canada lifted their price target 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. National Bankshares lifted their price target on Saputo from C$29.00 to C$35.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. Finally, BMO Capital Markets lifted their price target on Saputo from C$27.00 to C$34.00 in a research report on Monday, August 11th.

Insider Buying and Selling at Saputo

In related news, insider Leanne Cutts purchased 4,000 shares of Saputo stock in a transaction dated Friday, August 15th. The stock was bought at an average cost of C$32.93 per share, for a total transaction of C$131,720.00. Following the completion of the transaction, 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. Company insiders own 40.45% of the company's stock.

Saputo Stock Performance

Shares of SAP opened at C$33.48 on Friday. The firm has a market cap of C$13.80 billion, a PE ratio of -98.47, a PEG ratio of 0.56 and a beta of 0.07. The stock's fifty day moving average price is C$33.62 and its two-hundred day moving average price is C$29.15. The company has a debt-to-equity ratio of 51.68, a current ratio of 1.53 and a quick ratio of 0.67. Saputo has a 1 year low of C$22.59 and a 1 year high of C$34.75.

Saputo Increases Dividend

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

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.

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