Saputo (TSE:SAP) Price Target Cut to C$33.00 by Analysts at Desjardins

Saputo (TSE:SAPFree Report) had its price objective cut by Desjardins from C$35.00 to C$33.00 in a research report released on Monday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock. Desjardins also issued estimates for Saputo’s Q3 2024 earnings at $0.41 EPS, Q4 2024 earnings at $0.38 EPS, FY2024 earnings at $1.58 EPS and FY2025 earnings at $1.90 EPS.

A number of other research analysts have also commented on the stock. National Bankshares lowered their price objective on shares of Saputo from C$37.00 to C$36.00 in a research note on Monday, August 14th. Scotiabank decreased their price target on shares of Saputo from C$35.00 to C$33.00 and set a sector perform rating on the stock in a research report on Monday, July 24th. 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, the company has an average rating of Moderate Buy and an average target price of C$35.19.

Read Our Latest Stock Report on Saputo

Saputo Price Performance

Shares of TSE SAP opened at C$27.14 on Monday. The business’s fifty day moving average price is C$28.10 and its two-hundred day moving average price is C$29.84. The firm has a market capitalization of C$11.49 billion, a PE ratio of 18.09, a P/E/G ratio of 0.21 and a beta of 0.38. 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 1-year low of C$26.37 and a 1-year high of C$37.50.

Saputo Dividend Announcement

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

Insider Buying and Selling

In other Saputo news, Director Anna Lisa King sold 2,000 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of C$28.35, for a total transaction of C$56,692.00. Corporate insiders own 42.28% of the company’s stock.

About Saputo

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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.

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