Saputo (TSE:SAP) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Saputo Inc.'s share price surpassed its two hundred day moving average of C$29.09, reaching a high of C$34.16 during trading, with the last traded price at C$33.98.
• Multiple analysts have raised their price targets for Saputo, with Scotiabank now expecting a target of C$37.00, and the stock holds a consensus rating of "Moderate Buy" with an average target of C$34.75.
• The company recently increased its quarterly dividend to $0.20 per share, resulting in an annualized yield of 2.4%, reflecting a rise from the previous quarterly dividend of $0.19.

Shares of Saputo Inc. (TSE:SAP - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$29.09 and traded as high as C$34.16. Saputo shares last traded at C$33.98, with a volume of 1,505,553 shares.

Wall Street Analyst Weigh In

Several research firms recently commented on SAP. Scotiabank lifted their price target on Saputo from C$36.00 to C$37.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 8th. BMO Capital Markets boosted their target price on Saputo from C$27.00 to C$34.00 in a research report on Monday, August 11th. 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 report on Monday, August 11th. Desjardins boosted their target price on Saputo from C$31.00 to C$36.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Finally, National Bankshares boosted their target price 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. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Saputo currently has a consensus rating of "Moderate Buy" and a consensus price target of C$34.75.

Saputo Stock 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 firm has a 50-day moving average of C$33.53 and a 200-day moving average of C$29.09. The stock has a market capitalization of C$14.01 billion, a price-to-earnings ratio of -99.94, a P/E/G ratio of 0.56 and a beta of 0.07.

Saputo Increases Dividend

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

Insiders Place Their Bets

In other Saputo news, insider Leanne Cutts bought 4,000 shares of the company's stock in a transaction dated Friday, August 15th. The shares were purchased at an average cost of C$32.93 per share, for a total transaction of C$131,720.00. Following the transaction, the insider directly owned 23,500 shares of the company's stock, valued at approximately C$773,855. The trade was a 20.51% increase in their ownership of the stock. Corporate insiders own 40.45% of the company's stock.

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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