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

Key Points

• Saputo Inc.'s stock crossed above its 200-day moving average, trading as high as C$34.56, with shares last traded at C$34.23.
• Several analysts have raised their target prices for Saputo, with the consensus target now at C$34.63, reflecting a "Moderate Buy" sentiment.
• The company recently increased its quarterly dividend to $0.20 per share, marking a rise from its previous dividend of $0.19.

Saputo Inc. (TSE:SAP - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$27.91 and traded as high as C$34.56. Saputo shares last traded at C$34.23, with a volume of 1,239,121 shares trading hands.

Analysts Set New Price Targets

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

Saputo Stock Performance

The stock has a fifty day moving average of C$31.78 and a two-hundred day moving average of C$28.10. 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 has a market capitalization of C$13.81 billion, a PE ratio of -98.53, a PEG 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 issued a dividend of $0.20 per share. This is a boost from Saputo's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. Saputo's dividend payout ratio is presently -223.53%.

Insider Buying and Selling at Saputo

In other news, insider Leanne Cutts purchased 4,000 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was bought at an average cost of C$32.93 per share, with a total value of C$131,720.00. Following the completion of the purchase, the insider owned 23,500 shares in the company, valued at approximately C$773,855. This represents a 20.51% increase in their ownership of the stock. 40.45% of the stock is currently owned by company insiders.

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.