Saputo (TSE:SAP) Hits New 52-Week Low After Analyst Downgrade

Saputo Inc. (TSE:SAP) hit a new 52-week low during trading on Tuesday after Jefferies Financial Group lowered their price target on the stock from C$36.00 to C$32.00. Jefferies Financial Group currently has a buy rating on the stock. Saputo traded as low as C$24.63 and last traded at C$25.03, with a volume of 696364 shares. The stock had previously closed at C$25.20.

Several other analysts also recently commented on SAP. Royal Bank of Canada reduced their target price on shares of Saputo from C$39.00 to C$38.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. Desjardins set a C$34.00 price objective on Saputo in a report on Monday, November 11th. TD Securities lowered their target price on Saputo from C$38.00 to C$37.00 in a research note on Monday, November 11th. Finally, BMO Capital Markets downgraded Saputo from an “outperform” rating to a “market perform” rating and reduced their price target for the company from C$35.00 to C$30.00 in a research note on Tuesday, October 15th. One equities research 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 stock has an average rating of “Moderate Buy” and a consensus price target of C$34.19.

Insider Activity at Saputo

In related news, Senior Officer Leanne Cutts bought 4,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were purchased at an average price of C$26.25 per share, with a total value of C$105,000.00. 40.45% of the stock is owned by insiders.

Saputo Price Performance

The company has a 50 day moving average price of C$26.52 and a 200-day moving average price of C$28.84. The company has a quick ratio of 0.67, a current ratio of 1.59 and a debt-to-equity ratio of 53.17. The company has a market cap of C$10.63 billion, a price-to-earnings ratio of 39.76, a P/E/G ratio of 0.56 and a beta of 0.32.

Saputo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Tuesday, December 10th. Saputo’s payout ratio is currently 120.63%.

Saputo Company Profile

Saputo Inc produces, markets, and distributes dairy products in Canada, the United States, Argentina, Australia, and the United Kingdom. The company offers cheeses, including mozzarella and cheddar; specialty cheeses, such as ricotta, provolone, blue, parmesan, goat cheese, feta, romano, and havarti; fine cheeses comprising brie and camembert; and other cheeses that include brick, colby, farmer, munster, monterey jack, fresh curd, and processed cheeses.