TD Securities Cuts Saputo (TSE:SAP) Price Target to C$37.00

Saputo (TSE:SAP) had its price target cut by TD Securities from C$38.00 to C$37.00 in a research report sent to investors on Monday,BayStreet.CA reports.

SAP has been the subject of a number of other reports. National Bankshares dropped their price target on shares of Saputo from C$36.00 to C$35.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. CIBC dropped their price target on shares of Saputo from C$37.00 to C$35.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Royal Bank of Canada dropped their price target on shares of Saputo from C$39.00 to C$38.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Finally, BMO Capital Markets lowered shares of Saputo from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from C$35.00 to C$30.00 in a research report on Tuesday, October 15th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$34.50.

Saputo Stock Performance

Shares of TSE SAP opened at C$26.19 on Monday. The firm has a 50 day moving average of C$28.31 and a 200 day moving average of C$29.04. The company has a current ratio of 1.59, a quick ratio of 0.67 and a debt-to-equity ratio of 53.17. The firm has a market capitalization of C$11.11 billion, a price-to-earnings ratio of 41.54, a price-to-earnings-growth ratio of 0.56 and a beta of 0.32. Saputo has a 12-month low of C$25.28 and a 12-month high of C$32.15.

Saputo Announces Dividend

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

Insider Buying and Selling

In related news, Senior Officer Martin Gagnon bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was purchased at an average price of C$29.73 per share, for a total transaction of C$59,450.00. 40.45% of the stock is owned by company 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.