Saputo (TSE:SAP) Reaches 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 reached a new 52-week high during 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Scotiabank lifted their price objective on Saputo from C$29.00 to C$36.00 and gave the stock an "outperform" rating in a research report on Monday, August 11th. TD Securities lifted their price target on Saputo from C$35.00 to C$38.00 and gave the stock a "buy" rating in a report on Monday, August 11th. BMO Capital Markets lifted their price target on Saputo from C$27.00 to C$34.00 in a report on Monday, August 11th. Desjardins lifted their price target on Saputo from C$31.00 to C$36.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Finally, Royal Bank Of Canada lifted their target price on shares of Saputo from C$35.00 to C$37.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Saputo has a consensus rating of "Moderate Buy" and a consensus price target of C$34.63.

Saputo Price Performance

The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 51.68. The company has a market cap of C$13.96 billion, a PE ratio of -88.65, a P/E/G ratio of 0.56 and a beta of 0.32. The stock has a 50-day simple moving average of C$28.64 and a 200 day simple moving average of C$26.59.

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 issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, June 17th. Saputo's payout ratio is -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.

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