National Bankshares Cuts Saputo (TSE:SAP) Price Target to C$35.00

Saputo (TSE:SAP) had its price target trimmed by National Bankshares from C$36.00 to C$35.00 in a research report sent to investors on Monday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

SAP has been the subject of a number of other reports. CIBC reduced their target price on shares of Saputo from C$37.00 to C$35.00 and set an outperform rating for the company in a research note on Monday. BMO Capital Markets boosted their price objective on Saputo from C$34.00 to C$35.00 and gave the stock an outperform rating in a research report on Monday, June 10th. Royal Bank of Canada raised their target price on 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 Saputo from C$33.00 to C$35.00 and gave the stock a buy rating in a research report on Monday, June 10th. Finally, TD Securities raised their price target on Saputo from C$36.00 to C$37.00 and gave the company a buy rating in a report on Monday, June 10th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of C$35.50.

Saputo Trading Up 0.8 %

TSE:SAP opened at C$30.14 on Monday. The firm has a market capitalization of C$12.79 billion, a P/E ratio of 38.64, a P/E/G ratio of 0.21 and a beta of 0.32. The business has a 50 day simple moving average of C$30.74 and a 200 day simple moving average of C$28.36. The company has a debt-to-equity ratio of 58.27, a current ratio of 1.55 and a quick ratio of 0.67. Saputo has a 12-month low of C$25.28 and a 12-month high of C$32.15.

Saputo (TSE:SAP) last posted its earnings results on Thursday, June 6th. The company reported C$0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of C$0.37. The company had revenue of C$4.55 billion for the quarter, compared to analysts’ expectations of C$4.25 billion. Saputo had a return on equity of 4.76% and a net margin of 1.92%. Equities research analysts predict that Saputo will post 1.915804 EPS for the current 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 given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.52%. This is an increase from Saputo’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, September 10th. Saputo’s dividend payout ratio is 94.87%.

Insider Activity

In other news, Senior Officer Sindy Saragoca acquired 1,361 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was acquired at an average price of C$29.39 per share, for a total transaction of C$39,999.79. In other Saputo news, Senior Officer Sindy Saragoca bought 1,361 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average cost of C$29.39 per share, for a total transaction of C$39,999.79. Also, Senior Officer Carl Colizza bought 6,800 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average cost of C$29.43 per share, with a total value of C$200,124.00. In the last ninety days, insiders have bought 13,111 shares of company stock worth $391,024. 42.11% of the stock is owned by company insiders.

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.