Saputo Inc. (TSE:SAP) Announces $0.19 Quarterly Dividend

Saputo Inc. (TSE:SAP) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Tuesday, December 10th will be given a dividend of 0.19 per share on Friday, December 20th. This represents a $0.76 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Tuesday, December 10th.

Saputo Trading Down 0.2 %

Shares of SAP stock opened at C$26.71 on Friday. The stock’s 50-day moving average price is C$28.46 and its 200-day moving average price is C$29.03. Saputo has a 12-month low of C$25.28 and a 12-month high of C$32.15. The stock has a market capitalization of C$11.33 billion, a price-to-earnings ratio of 42.40, a price-to-earnings-growth ratio of 0.56 and a beta of 0.32. The company has a current ratio of 1.59, a quick ratio of 0.67 and a debt-to-equity ratio of 53.17.

Saputo (TSE:SAP) last released its quarterly earnings data on Thursday, August 8th. The company reported C$0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.37 by C$0.02. The business had revenue of C$4.61 billion for the quarter, compared to the consensus estimate of C$4.44 billion. Saputo had a return on equity of 3.72% and a net margin of 1.50%. Equities research analysts predict that Saputo will post 1.7735369 EPS for the current fiscal year.

Insider Transactions at Saputo

In other news, Senior Officer Martin Gagnon purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was acquired at an average cost of C$29.73 per share, with a total value of C$59,450.00. In related news, Senior Officer Carl Colizza bought 6,800 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of C$29.43 per share, with a total value of C$200,124.00. Also, Senior Officer Martin Gagnon acquired 2,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were bought at an average price of C$29.73 per share, with a total value of C$59,450.00. Corporate insiders own 40.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. CIBC decreased their price target on shares of Saputo from C$37.00 to C$35.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. BMO Capital Markets cut shares of Saputo from an “outperform” rating to a “market perform” rating and decreased their target price for the company from C$35.00 to C$30.00 in a research report on Tuesday, October 15th. Royal Bank of Canada reduced their price objective on Saputo from C$39.00 to C$38.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Finally, 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 note on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Saputo currently has an average rating of “Moderate Buy” and a consensus price target of C$34.64.

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.