Saputo Inc. (SAP) Raises Dividend to $0.17 Per Share
Saputo Inc. (TSE:SAP) announced a quarterly dividend on Tuesday, August 7th, Zacks reports. Investors of record on Tuesday, September 4th will be paid a dividend of 0.165 per share on Friday, September 14th. This represents a $0.66 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Friday, August 31st. This is a positive change from Saputo’s previous quarterly dividend of $0.16.
Saputo traded down C$0.79, hitting C$41.05, during mid-day trading on Wednesday, Marketbeat Ratings reports. 194,432 shares of the company’s stock were exchanged, compared to its average volume of 418,095. Saputo has a fifty-two week low of C$39.08 and a fifty-two week high of C$47.59.
Saputo (TSE:SAP) last issued its quarterly earnings data on Thursday, June 7th. The company reported C$0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.42 by C($0.07). The business had revenue of C$2.74 billion for the quarter, compared to analyst estimates of C$2.71 billion. Saputo had a return on equity of 30.30% and a net margin of 11.15%.
Several analysts have issued reports on the company. Scotiabank dropped their price target on Saputo from C$57.00 to C$54.00 and set an “outperform” rating on the stock in a research note on Friday, June 8th. Desjardins downgraded Saputo from a “buy” rating to a “hold” rating and dropped their price target for the company from C$48.00 to C$42.00 in a research note on Friday, June 8th. BMO Capital Markets set a C$44.00 price target on Saputo and gave the company a “market perform” rating in a research note on Thursday, April 19th. National Bank Financial dropped their price target on Saputo from C$46.00 to C$45.00 and set a “sector perform” rating on the stock in a research note on Friday, June 8th. Finally, TD Securities dropped their price target on Saputo from C$45.00 to C$42.00 and set a “hold” rating on the stock in a research note on Friday, June 8th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of C$46.71.
Saputo Company Profile
Saputo Inc produces, markets, and distributes dairy products in Canada, the United States, Argentina, Australia, and internationally. It offers cheese products, including mozzarella and cheddar; specialty cheese, such as ricotta, provolone, parmesan, goat cheese, feta, and havarti; fine cheese, such as brie and camembert; other cheese, including brick, colby, farmer, munster, monterey jack, fresh curd, and processed cheese; and butter.
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