Saputo (TSE:SAP) Hits New 52-Week High – Here’s What Happened

Saputo Inc. (TSE:SAP)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$39.24 and last traded at C$39.15, with a volume of 170684 shares. The stock had previously closed at C$38.70.

Analysts Set New Price Targets

A number of analysts have recently commented on SAP shares. TD Securities upped their price target on Saputo from C$38.00 to C$44.00 in a research note on Monday, November 10th. Desjardins upped their price target on shares of Saputo from C$31.00 to C$36.00 and gave the company a “buy” rating in a report on Monday, August 11th. CIBC increased their price objective on shares of Saputo from C$36.00 to C$40.00 in a research report on Monday, November 10th. Scotiabank boosted their price objective on shares of Saputo from C$36.00 to C$37.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Finally, National Bankshares upped their target price on shares of Saputo from C$36.00 to C$38.00 in a research note on Monday, November 10th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Saputo currently has a consensus rating of “Moderate Buy” and an average target price of C$38.63.

Saputo Trading Up 1.3%

The company has a market cap of C$16.07 billion, a price-to-earnings ratio of -195.95, a PEG ratio of 0.56 and a beta of 0.07. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 51.68. The business’s fifty day simple moving average is C$34.70 and its two-hundred day simple moving average is C$31.13.

Saputo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, September 12th were paid a $0.20 dividend. This is a boost from Saputo’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, September 2nd. Saputo’s payout ratio is currently -385.00%.

About Saputo

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.