BMO Capital Markets Cuts Saputo (TSE:SAP) Price Target to C$34.00

Saputo (TSE:SAP) had its price target trimmed by BMO Capital Markets from C$37.00 to C$34.00 in a research report report published on Monday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also weighed in on the company. Scotiabank dropped their target price on Saputo from C$34.00 to C$31.50 and set a sector perform rating on the stock in a research report on Monday. CIBC dropped their target price on Saputo from C$38.00 to C$37.00 and set an outperform rating on the stock in a research report on Monday. National Bankshares lowered their price objective on Saputo from C$36.00 to C$35.00 and set an outperform rating on the stock in a report on Monday. Finally, Desjardins lowered their price objective on Saputo from C$35.00 to C$33.00 and set a buy rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Saputo presently has a consensus rating of Moderate Buy and a consensus price target of C$35.19.

Saputo Stock Performance

Shares of SAP stock opened at C$27.14 on Monday. The company has a debt-to-equity ratio of 56.82, a current ratio of 1.64 and a quick ratio of 0.67. Saputo has a fifty-two week low of C$26.37 and a fifty-two week high of C$37.50. The stock’s 50-day moving average is C$28.10 and its two-hundred day moving average is C$29.84. The firm has a market cap of C$11.49 billion, a P/E ratio of 18.09, a PEG ratio of 0.21 and a beta of 0.38.

Saputo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, December 5th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Monday, December 4th. Saputo’s dividend payout ratio is 49.33%.

Insider Activity

In related news, Director Anna Lisa King sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of C$28.35, for a total transaction of C$56,692.00. 42.28% of the stock is currently owned by 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.