Saputo Inc. (TSE:SAP) Receives Average Rating of “Buy” from Brokerages

Saputo Inc. (TSE:SAP) has been given an average rating of “Buy” by the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have covered the stock in the last year is C$35.50.

Several brokerages recently commented on SAP. Royal Bank of Canada boosted their price objective on shares of Saputo from C$36.00 to C$39.00 and gave the company an “outperform” rating in a research note on Tuesday, June 4th. National Bankshares cut their price target on shares of Saputo from C$36.00 to C$35.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. TD Securities boosted their price target on shares of Saputo from C$36.00 to C$37.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. BMO Capital Markets boosted their price target on shares of Saputo from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Monday, June 10th. Finally, Desjardins boosted their price target on shares of Saputo from C$33.00 to C$35.00 and gave the stock a “buy” rating in a research note on Monday, June 10th.

Insider Transactions at Saputo

In other Saputo news, Senior Officer Sindy Saragoca acquired 1,361 shares of the stock in a transaction dated Monday, June 17th. The stock was purchased at an average cost of C$29.39 per share, for a total transaction of C$39,999.79. In other news, Senior Officer Carl Colizza purchased 6,800 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average cost of C$29.43 per share, for a total transaction of C$200,124.00. Also, Senior Officer Sindy Saragoca purchased 1,361 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were purchased at an average price of C$29.39 per share, with a total value of C$39,999.79. In the last ninety days, insiders acquired 15,111 shares of company stock worth $450,474. 42.57% of the stock is currently owned by insiders.

Saputo Price Performance

Shares of TSE:SAP opened at C$30.81 on Friday. The company has a 50 day moving average of C$30.79 and a 200 day moving average of C$28.44. The stock has a market cap of C$13.07 billion, a P/E ratio of 48.90, a P/E/G ratio of 0.21 and a beta of 0.33. Saputo has a 12 month low of C$25.28 and a 12 month high of C$32.15. 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 issued its quarterly earnings data on Thursday, June 6th. The company reported C$0.37 EPS for the quarter, meeting the consensus estimate of C$0.37. The company had revenue of C$4.55 billion during the quarter, compared to analysts’ expectations of C$4.25 billion. Saputo had a net margin of 1.50% and a return on equity of 3.72%. As a group, sell-side analysts forecast that Saputo will post 1.8112058 EPS for the current fiscal year.

Saputo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.47%. This is a positive change from Saputo’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, September 10th. Saputo’s payout ratio is presently 120.63%.

Saputo Company Profile

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.