Saputo (TSE:SAP) Price Target Raised to C$44.00 at CIBC

Saputo (TSE:SAP) had its target price hoisted by CIBC from C$40.00 to C$44.00 in a research note released on Friday morning,BayStreet.CA reports.

SAP has been the subject of a number of other reports. Scotiabank upped their price target on shares of Saputo from C$36.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. National Bankshares upped their target price on shares of Saputo from C$38.00 to C$45.00 and gave the stock an “outperform” rating in a report on Thursday, January 22nd. BMO Capital Markets increased their price target on Saputo from C$37.00 to C$41.00 and gave the stock a “market perform” rating in a research note on Friday, January 23rd. Jefferies Financial Group raised their price target on Saputo from C$38.00 to C$40.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Finally, Desjardins upped their price objective on Saputo from C$40.00 to C$45.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$42.25.

Saputo Stock Performance

Shares of SAP stock opened at C$41.08 on Friday. 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 company has a 50 day moving average price of C$40.61 and a 200-day moving average price of C$35.79. Saputo has a 52 week low of C$23.10 and a 52 week high of C$42.30. The firm has a market capitalization of C$16.84 billion, a PE ratio of -205.40, a P/E/G ratio of 0.56 and a beta of 0.18.

Saputo (TSE:SAP) last posted its earnings results on Thursday, November 6th. The company reported C$0.45 earnings per share for the quarter. The company had revenue of C$4.72 billion for the quarter. Saputo had a negative return on equity of 2.20% and a negative net margin of 0.84%. As a group, equities research analysts expect that Saputo will post 1.7735369 earnings per share for the current year.

Saputo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, December 12th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Tuesday, December 2nd. Saputo’s dividend payout ratio (DPR) is -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. Saputo also competes in food service (30% of revenue) and industrials (20% of revenue), which houses its ingredients business.