Saputo (TSE:SAP) Price Target Cut to C$37.00 by Analysts at TD Securities

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

Several other analysts have also recently commented on the stock. Royal Bank of Canada lowered their target price on shares of Saputo from C$39.00 to C$38.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. National Bankshares lowered their price objective on 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 reduced their target price on Saputo from C$37.00 to C$35.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Finally, BMO Capital Markets cut Saputo from an “outperform” rating to a “market perform” rating and lowered their price target for the company from C$35.00 to C$30.00 in a report on Tuesday, October 15th. One investment 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 company presently has an average rating of “Moderate Buy” and an average price target of C$34.50.

Saputo Stock Performance

Shares of TSE SAP opened at C$26.49 on Monday. The company has a 50-day simple moving average of C$28.24 and a 200-day simple moving average of C$29.04. The company has a debt-to-equity ratio of 53.17, a current ratio of 1.59 and a quick ratio of 0.67. The company has a market cap of C$11.24 billion, a PE ratio of 41.57, 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 company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Tuesday, December 10th. Saputo’s payout ratio is currently 120.63%.

Insiders Place Their Bets

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

About Saputo

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.