Saputo (TSE:SAP) Given a C$34.00 Price Target by Desjardins Analysts

Desjardins set a C$34.00 price objective on Saputo (TSE:SAP) in a research note released on Monday morning,BayStreet.CA reports.

Several other brokerages have also recently commented on SAP. BMO Capital Markets cut shares of Saputo from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from C$35.00 to C$30.00 in a research note on Tuesday, October 15th. CIBC dropped their price target on Saputo from C$37.00 to C$35.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. National Bankshares reduced their price objective on Saputo from C$36.00 to C$35.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. TD Securities cut their target price on shares of Saputo from C$38.00 to C$37.00 in a report on Monday. Finally, Royal Bank of Canada decreased their price target on shares of Saputo from C$39.00 to C$38.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$34.50.

Saputo Stock Performance

TSE:SAP opened at C$26.22 on Monday. The stock has a market capitalization of C$11.13 billion, a P/E ratio of 41.78, a P/E/G ratio of 0.56 and a beta of 0.32. 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 has a 12-month low of C$25.28 and a 12-month high of C$32.15. The stock has a 50-day moving average price of C$28.46 and a 200 day moving average price of C$29.08.

Saputo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Tuesday, December 10th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.76 annualized dividend and a yield of 2.90%. Saputo’s payout ratio is 120.63%.

Insider Buying and Selling

In other Saputo news, Senior Officer Martin Gagnon bought 2,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were bought at an average cost of C$29.73 per share, for a total transaction of C$59,450.00. 40.45% of the stock is owned by corporate insiders.

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.