Royal Bank of Canada Cuts Saputo (TSE:SAP) Price Target to C$35.00

Saputo (TSE:SAP - Free Report) had its price target lowered by Royal Bank of Canada from C$38.00 to C$35.00 in a research report report published on Friday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

SAP has been the subject of several other research reports. Jefferies Financial Group dropped their price objective on Saputo from C$36.00 to C$32.00 and set a "buy" rating for the company in a report on Monday, December 23rd. TD Securities dropped their price objective on Saputo from C$38.00 to C$37.00 in a report on Monday, November 11th. CIBC lowered their target price on Saputo from C$35.00 to C$32.00 in a research note on Thursday, January 30th. BMO Capital Markets lowered their target price on Saputo from C$30.00 to C$27.00 and set a "market perform" rating for the company in a research note on Friday, January 10th. Finally, National Bankshares lowered their target price on Saputo from C$31.00 to C$28.00 in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Saputo currently has a consensus rating of "Moderate Buy" and an average target price of C$31.44.

Saputo Trading Up 0.4 %

TSE SAP traded up C$0.09 on Friday, hitting C$24.23. The company's stock had a trading volume of 538,115 shares, compared to its average volume of 803,839. Saputo has a 52-week low of C$22.59 and a 52-week high of C$32.15. The company has a current ratio of 1.59, a quick ratio of 0.67 and a debt-to-equity ratio of 53.17. The company's 50-day simple moving average is C$24.68 and its 200 day simple moving average is C$27.40. The firm has a market cap of C$10.28 billion, a P/E ratio of 38.46, a PEG ratio of 0.56 and a beta of 0.32.

Saputo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 20th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Tuesday, December 10th. Saputo's payout ratio is 120.63%.

Insiders Place Their Bets

In other news, Senior Officer Leanne Cutts purchased 4,000 shares of the company's stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average cost of C$26.25 per share, for a total transaction of C$105,000.00. Corporate insiders own 40.45% of the company's stock.

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.