Saputo (TSE:SAP) Hits New 52-Week High - What's Next?

Key Points

• Saputo Inc. shares reached a new 52-week high of C$33.26 during trading, reflecting growing investor interest and higher trading volumes.
• Several analysts have upgraded their price targets for Saputo, with notable increases from Scotiabank and Desjardins, both raising their targets to C$36.00.
• Saputo also announced a quarterly dividend of $0.19, representing an annualized dividend yield of 2.3%, although the company's payout ratio stands at a negative 203.48% highlighting potential sustainability concerns.

Saputo Inc. (TSE:SAP - Get Free Report)'s stock price reached a new 52-week high on Thursday . The company traded as high as C$33.26 and last traded at C$33.07, with a volume of 666188 shares. The stock had previously closed at C$32.59.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SAP shares. TD Securities increased their target price on shares of Saputo from C$35.00 to C$38.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Royal Bank Of Canada lifted their price objective on shares of Saputo from C$35.00 to C$37.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Desjardins upped their target price on Saputo from C$31.00 to C$36.00 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. Finally, National Bankshares upped their price objective on Saputo from C$29.00 to C$35.00 and gave the stock an "outperform" rating in a research note on Monday, August 11th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of C$34.63.

Saputo Stock Up 1.1%

The company has a market cap of C$13.92 billion, a PE ratio of -88.38, a P/E/G ratio of 0.56 and a beta of 0.32. The business has a 50-day simple moving average of C$28.39 and a 200-day simple moving average of C$26.48. 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 Announces Dividend

The business also recently declared 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 of this dividend 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.