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

Saputo (TSE:SAP) 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.

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

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.