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

Saputo Inc. (TSE:SAP - Get Free Report) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Tuesday, December 10th will be paid 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 Price Performance

TSE:SAP traded down C$0.06 during trading hours on Friday, reaching C$26.71. 450,400 shares of the company were exchanged, compared to its average volume of 440,418. The business has a 50 day moving average of C$28.46 and a 200 day moving average of C$29.03. Saputo has a 1-year low of C$25.28 and a 1-year high of C$32.15. The company has a debt-to-equity ratio of 53.17, a current ratio of 1.59 and a quick ratio of 0.67. The company has a market capitalization of C$11.33 billion, a P/E ratio of 42.40, a P/E/G ratio of 0.56 and a beta of 0.32.

Saputo (TSE:SAP - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported C$0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.37 by C$0.02. Saputo had a return on equity of 3.72% and a net margin of 1.50%. The company had revenue of C$4.61 billion for the quarter, compared to analyst estimates of C$4.44 billion. Research analysts forecast that Saputo will post 1.7735369 EPS for the current year.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on SAP. National Bankshares cut their price target on shares of Saputo from C$36.00 to C$35.00 and set an "outperform" rating for the company in a report on Monday, August 12th. BMO Capital Markets downgraded Saputo from an "outperform" rating to a "market perform" rating and reduced their target price for the company from C$35.00 to C$30.00 in a report on Tuesday, October 15th. Royal Bank of Canada decreased their price target 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, CIBC dropped their price objective on Saputo from C$37.00 to C$35.00 and set an "outperform" rating for the company in a research report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Saputo presently has a consensus rating of "Moderate Buy" and a consensus target price 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.