Saputo (TSE:SAP) Given New C$35.00 Price Target at National Bankshares

Saputo (TSE:SAP) had its price target decreased by National Bankshares from C$36.00 to C$35.00 in a research note released on Monday, BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

Several other analysts have also issued reports on SAP. TD Securities lifted their target price on shares of Saputo from C$36.00 to C$37.00 and gave the company a buy rating in a research report on Monday, June 10th. Royal Bank of Canada lifted their target price on shares of Saputo from C$36.00 to C$39.00 and gave the company an outperform rating in a research report on Tuesday, June 4th. 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 report 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 report on Monday, June 10th. Finally, CIBC 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 research report on Monday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of Buy and a consensus target price of C$35.50.

Saputo Stock Down 0.9 %

Shares of TSE SAP opened at C$29.89 on Monday. The company’s 50-day simple moving average is C$30.69 and its 200-day simple moving average is C$28.34. Saputo has a 52-week low of C$25.28 and a 52-week high of C$32.15. The firm has a market cap of C$12.68 billion, a price-to-earnings ratio of 38.32, a price-to-earnings-growth ratio of 0.21 and a beta of 0.32. The company has a quick ratio of 0.67, a current ratio of 1.55 and a debt-to-equity ratio of 58.27.

Saputo (TSE:SAP) last announced its earnings results on Thursday, June 6th. The company reported C$0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$0.37. Saputo had a net margin of 1.92% and a return on equity of 4.76%. The business had revenue of C$4.55 billion for the quarter, compared to analyst estimates of C$4.25 billion. Equities analysts predict that Saputo will post 1.915804 EPS for the current fiscal year.

Saputo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This is an increase from Saputo’s previous quarterly dividend of $0.19. This represents a $0.76 dividend on an annualized basis and a yield of 2.54%. Saputo’s payout ratio is 94.87%.

Insiders Place Their Bets

In other news, Senior Officer Sindy Saragoca bought 1,361 shares of Saputo stock in a transaction on Monday, June 17th. The shares were bought at an average cost of C$29.39 per share, with a total value of C$39,999.79. In other news, Senior Officer Sindy Saragoca bought 1,361 shares of Saputo stock in a transaction on Monday, June 17th. The shares were bought at an average cost of C$29.39 per share, with a total value of C$39,999.79. Also, Senior Officer Richard Wallace bought 4,950 shares of Saputo stock in a transaction on Wednesday, June 26th. The shares were purchased at an average cost of C$30.48 per share, for a total transaction of C$150,899.76. Insiders have bought 13,111 shares of company stock valued at $391,024 over the last ninety days. Company insiders own 42.11% of the company’s stock.

About Saputo

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.