Saputo (TSE:SAP) Insider Patrick Turcotte Sells 2,071 Shares

Saputo Inc. (TSE:SAP) insider Patrick Turcotte sold 2,071 shares of Saputo stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of C$42.18, for a total transaction of C$87,354.78. Following the completion of the transaction, the insider directly owned 8,336 shares of the company’s stock, valued at C$351,612.48. The trade was a 19.90% decrease in their position.

Patrick Turcotte also recently made the following trade(s):

• On Wednesday, February 18th, Patrick Turcotte sold 488 shares of Saputo stock. The stock was sold at an average price of C$42.19, for a total transaction of C$20,588.72.
• On Wednesday, February 18th, Patrick Turcotte sold 100 shares of Saputo stock. The shares were sold at an average price of C$42.25, for a total value of C$4,225.00.

Saputo Price Performance

Shares of Saputo stock traded up C$0.11 on Friday, hitting C$42.89. The company’s stock had a trading volume of 1,237,796 shares, compared to its average volume of 1,021,981. The company has a market capitalization of C$17.38 billion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 0.56 and a beta of 0.13. Saputo Inc. has a 1 year low of C$23.94 and a 1 year high of C$44.00. The company has a debt-to-equity ratio of 59.15, a quick ratio of 0.67 and a current ratio of 1.64. The firm has a fifty day moving average price of C$41.82 and a 200-day moving average price of C$38.00.

Saputo (TSE:SAP) last issued its quarterly earnings results on Thursday, February 5th. The company reported C$0.57 earnings per share (EPS) for the quarter. Saputo had a return on equity of 9.50% and a net margin of 3.39%.The company had revenue of C$4.89 billion for the quarter. As a group, sell-side analysts anticipate that Saputo Inc. will post 1.7735369 earnings per share for the current fiscal year.

Saputo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, March 13th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, March 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. Saputo’s dividend payout ratio (DPR) is 50.00%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. TD Securities boosted their price target on shares of Saputo from C$51.00 to C$52.00 and gave the stock a “buy” rating in a report on Sunday, February 15th. Scotiabank lifted their target price on shares of Saputo from C$47.00 to C$49.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. National Bank Financial boosted their target price on shares of Saputo from C$45.00 to C$46.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Royal Bank Of Canada upped their price target on shares of Saputo from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Sunday, February 8th. Finally, Canadian Imperial Bank of Commerce raised their price target on shares of Saputo from C$40.00 to C$44.00 in a research note on Friday, January 30th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$46.25.

Saputo Company Profile

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.