Saputo (TSE:SAP) Sets New 52-Week High After Analyst Upgrade

Key Points

• Saputo (TSE:SAP) reached a new 52-week high after Royal Bank of Canada upgraded its price target from C$35.00 to C$37.00, maintaining an outperform rating.
• The company announced a quarterly dividend of $0.19 per share, leading to an annualized yield of 2.4%; however, its dividend payout ratio currently stands at an unusual -203.48%.
• Saputo's market capitalization is approximately C$13.49 billion with a mix of operations across several countries, including Canada, the U.S., and the U.K.

Shares of Saputo Inc. (TSE:SAP - Get Free Report) hit a new 52-week high on Friday after Royal Bank Of Canada raised their price target on the stock from C$35.00 to C$37.00. Royal Bank Of Canada currently has an outperform rating on the stock. Saputo traded as high as C$32.04 and last traded at C$32.00, with a volume of 1155133 shares. The stock had previously closed at C$29.38.

Several other brokerages also recently weighed in on SAP. Scotiabank cut their target price on Saputo from C$30.00 to C$29.00 and set an "outperform" rating on the stock in a research note on Monday, June 9th. National Bankshares lifted their price objective on shares of Saputo from C$28.00 to C$29.00 and gave the company an "outperform" rating in a research note on Monday, June 9th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$31.13.

Saputo Trading Up 8.9%

The firm has a market cap of C$13.49 billion, a P/E ratio of -85.68, a price-to-earnings-growth ratio of 0.56 and a beta of 0.32. 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 company's fifty day moving average price is C$27.66 and its two-hundred day moving average price is C$26.08.

Saputo Dividend Announcement

The company 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. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.76 annualized dividend and a yield of 2.4%. Saputo's dividend payout ratio (DPR) is presently -203.48%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.