Saputo (TSE:SAP) Sets New 12-Month High – Time to Buy?

Shares of Saputo Inc. (TSE:SAP) reached a new 52-week high on Tuesday . The company traded as high as C$39.24 and last traded at C$39.15, with a volume of 170684 shares. The stock had previously closed at C$38.70.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SAP. BMO Capital Markets raised their price target on Saputo from C$34.00 to C$37.00 in a report on Monday, November 10th. Desjardins raised their price objective on shares of Saputo from C$31.00 to C$36.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Royal Bank Of Canada lifted their target price on shares of Saputo from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Scotiabank increased their price target on Saputo from C$36.00 to C$37.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group lifted their price objective on Saputo from C$38.00 to C$40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$38.63.

Saputo Stock Up 1.3%

The stock has a market capitalization of C$16.07 billion, a P/E ratio of -195.95, a price-to-earnings-growth ratio of 0.56 and a beta of 0.07. The firm has a 50 day moving average of C$34.70 and a 200-day moving average of C$31.13. The company has a debt-to-equity ratio of 51.68, a current ratio of 1.53 and a quick ratio of 0.67.

Saputo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, September 12th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Saputo’s previous quarterly dividend of $0.19. Saputo’s dividend payout ratio is presently -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.