Saputo (TSE:SAP) Hits New 1-Year High – Should You Buy?

Saputo Inc. (TSE:SAP)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as C$37.39 and last traded at C$37.36, with a volume of 1035979 shares changing hands. The stock had previously closed at C$36.92.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SAP. Desjardins increased their price target on shares of Saputo from C$31.00 to C$36.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Royal Bank Of Canada upped their target price on Saputo from C$35.00 to C$37.00 and gave the company an “outperform” rating in a report on Friday, August 8th. TD Securities lifted their price target on shares of Saputo from C$38.00 to C$44.00 in a report on Monday, November 10th. CIBC upped their price objective on shares of Saputo from C$36.00 to C$40.00 in a report on Monday, November 10th. Finally, Scotiabank raised their target price on shares of Saputo from C$36.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Saputo has an average rating of “Moderate Buy” and a consensus target price of C$38.63.

Saputo Trading Up 1.7%

The stock’s fifty day moving average price is C$34.19 and its 200 day moving average price is C$30.55. The stock has a market cap of C$15.69 billion, a P/E ratio of -188.60, a PEG 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, September 12th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.1%. This is a boost from Saputo’s previous quarterly dividend of $0.19. The ex-dividend date was Tuesday, September 2nd. Saputo’s dividend payout ratio is currently -385.00%.

Saputo Company Profile

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.