Saputo (TSE:SAP) Given New C$39.00 Price Target at CIBC

Saputo (TSE:SAP – Get Rating) had its price target boosted by CIBC from C$35.00 to C$39.00 in a report published on Friday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other research firms also recently commented on SAP. National Bankshares upped their price objective on shares of Saputo from C$35.00 to C$39.00 in a report on Friday. Scotiabank lowered their price target on shares of Saputo from C$37.00 to C$36.00 in a report on Friday, June 10th. Finally, Royal Bank of Canada lowered their price target on shares of Saputo from C$37.00 to C$35.00 and set an outperform rating on the stock in a report on Thursday, April 28th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Saputo has an average rating of Buy and a consensus price target of C$38.67.

Saputo Price Performance

TSE SAP opened at C$33.99 on Friday. The company has a market cap of C$14.20 billion and a PE ratio of 51.50. Saputo has a 52 week low of C$24.61 and a 52 week high of C$37.09. The company has a quick ratio of 0.62, a current ratio of 1.55 and a debt-to-equity ratio of 65.26. The firm’s 50-day simple moving average is C$28.97 and its two-hundred day simple moving average is C$28.97.

Saputo (TSE:SAP – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported C$0.39 EPS for the quarter, beating the consensus estimate of C$0.30 by C$0.09. The business had revenue of C$4.33 billion for the quarter, compared to analysts’ expectations of C$4.20 billion. Research analysts predict that Saputo will post 1.95 earnings per share for the current year.

Saputo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 28th. Investors of record on Tuesday, June 21st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Monday, June 20th. Saputo’s dividend payout ratio (DPR) is 108.33%.

Insider Buying and Selling

In related news, Director Louis-Philippe Carrière sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of C$28.54, for a total value of C$998,900.00. Following the transaction, the director now directly owns 46,435 shares in the company, valued at C$1,325,254.90. In other Saputo news, Director Haig Poutchigian purchased 3,329 shares of Saputo stock in a transaction on Tuesday, June 14th. The shares were acquired at an average cost of C$27.03 per share, for a total transaction of C$89,982.87. Following the completion of the transaction, the director now directly owns 8,741 shares of the company’s stock, valued at C$236,269.23. Also, Director Louis-Philippe Carrière sold 35,000 shares of the stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of C$28.54, for a total transaction of C$998,900.00. Following the transaction, the director now owns 46,435 shares in the company, valued at C$1,325,254.90.

About Saputo

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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.