Saputo (TSE:SAP) Share Price Passes Above 200 Day Moving Average of $28.57

Saputo Inc. (TSE:SAP)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$28.57 and traded as high as C$30.00. Saputo shares last traded at C$29.76, with a volume of 504,135 shares traded.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SAP shares. Royal Bank of Canada increased their price objective on Saputo from C$36.00 to C$39.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 4th. TD Securities raised their price target on Saputo from C$36.00 to C$37.00 and gave the company a “buy” rating in a report on Monday, June 10th. CIBC reduced their price target on Saputo from C$37.00 to C$35.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Desjardins raised their price target on Saputo from C$33.00 to C$35.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, National Bankshares reduced their price target on Saputo from C$36.00 to C$35.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$35.50.

Saputo Stock Down 0.2 %

The stock has a market capitalization of C$12.60 billion, a PE ratio of 47.14, a P/E/G ratio of 0.21 and a beta of 0.33. The firm has a 50 day moving average of C$30.80 and a two-hundred day moving average of C$28.58. The company has a current ratio of 1.59, a quick ratio of 0.67 and a debt-to-equity ratio of 53.17.

Saputo (TSE:SAP) last released its quarterly earnings data on Thursday, August 8th. The company reported C$0.39 earnings per share for the quarter, beating the consensus estimate of C$0.37 by C$0.02. Saputo had a return on equity of 3.72% and a net margin of 1.50%. The firm had revenue of C$4.61 billion during the quarter, compared to the consensus estimate of C$4.44 billion. Equities research analysts anticipate that Saputo Inc. will post 1.8075995 earnings per share for the current year.

Saputo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 20th will be paid a $0.19 dividend. This is an increase from Saputo’s previous quarterly dividend of $0.19. This represents a $0.76 annualized dividend and a yield of 2.56%. The ex-dividend date is Tuesday, September 10th. Saputo’s dividend payout ratio (DPR) is presently 120.63%.

Insider Activity at Saputo

In related news, Senior Officer Richard Wallace purchased 4,950 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was bought at an average price of C$30.48 per share, with a total value of C$150,899.76. In related news, Senior Officer Carl Colizza purchased 6,800 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average price of C$29.43 per share, with a total value of C$200,124.00. Also, Senior Officer Richard Wallace purchased 4,950 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were bought at an average cost of C$30.48 per share, with a total value of C$150,899.76. Insiders bought 15,111 shares of company stock valued at $450,474 in the last ninety days. Corporate insiders own 42.57% of the company’s stock.

About Saputo

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.