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

Key Points

• Saputo Inc. (TSE:SAP) shares recently crossed above the 200-day moving average of C$28.45, trading as high as C$33.79 with a current price of C$33.76.
• On August 11th, several analysts upgraded Saputo's stock ratings, with target prices raised to a consensus average of C$34.63, highlighting a general positive sentiment for the company.
• Saputo announced a dividend increase to $0.20 per share from the previous $0.19, yielding 2.4%, reflecting the company's commitment to returning value to shareholders.

Saputo Inc. (TSE:SAP - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$28.45 and traded as high as C$33.79. Saputo shares last traded at C$33.76, with a volume of 435,905 shares trading hands.

Analyst Ratings Changes

Several analysts recently issued reports on SAP shares. Scotiabank upped their price target on shares of Saputo from C$29.00 to C$36.00 and gave the company an "outperform" rating in a report on Monday, August 11th. Desjardins boosted their target price on shares of Saputo from C$31.00 to C$36.00 and gave the company a "buy" rating in a research note on Monday, August 11th. National Bankshares boosted their target price on shares of Saputo from C$29.00 to C$35.00 and gave the company an "outperform" rating in a research note on Monday, August 11th. BMO Capital Markets boosted their target price on shares of Saputo from C$27.00 to C$34.00 in a research note on Monday, August 11th. Finally, TD Securities boosted their target price on shares of Saputo from C$35.00 to C$38.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of C$34.63.

Saputo Stock Up 1.2%

The stock's 50-day moving average is C$32.41 and its 200-day moving average is C$28.45. The stock has a market cap of C$13.91 billion, a P/E ratio of -99.29, a price-to-earnings-growth ratio of 0.56 and a beta of 0.07. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 51.68.

Saputo Increases Dividend

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

Insider Transactions at Saputo

In related news, insider Leanne Cutts bought 4,000 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was purchased at an average price 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. This represents a 20.51% increase in their position. 40.45% of the stock is owned by corporate insiders.

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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