Saputo (TSE:SAP) Sets New 12-Month High - Here's What Happened

Key Points

• Saputo Inc. reached a new 52-week high stock price of C$33.35 during trading, with its last recorded price at C$33.11.
• Multiple analysts have upgraded their price targets for Saputo, with Scotiabank and TD Securities setting targets as high as C$38.00 and maintaining a consensus rating of "Moderate Buy."
• The company recently announced a quarterly dividend of $0.19, resulting in an annual yield of 2.3%, despite a negative payout ratio.

Saputo Inc. (TSE:SAP - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$33.35 and last traded at C$33.11, with a volume of 781138 shares changing hands. The stock had previously closed at C$33.09.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Scotiabank lifted their target price on Saputo from C$29.00 to C$36.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. National Bankshares upped their price objective on Saputo from C$29.00 to C$35.00 and gave the company an "outperform" rating in a research note on Monday, August 11th. TD Securities lifted their target price on Saputo from C$35.00 to C$38.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Royal Bank Of Canada boosted their price target on shares of Saputo from C$35.00 to C$37.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, BMO Capital Markets raised their price objective on shares of Saputo from C$27.00 to C$34.00 in a report on Monday, August 11th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$34.63.

Saputo Price 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 has a 50-day moving average price of C$29.04 and a 200 day moving average price of C$26.82. The stock has a market cap of C$14.19 billion, a PE ratio of -90.15, a PEG ratio of 0.56 and a beta of 0.32.

Saputo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 26th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, June 17th. Saputo's payout ratio is presently -203.48%.

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.