CIBC Has Lowered Expectations for Saputo (TSE:SAP) Stock Price

Saputo (TSE:SAP - Free Report) had its target price lowered by CIBC from C$32.00 to C$29.00 in a report issued on Monday,BayStreet.CA reports.

Other research analysts also recently issued reports about the stock. TD Securities reduced their price objective on shares of Saputo from C$38.00 to C$37.00 in a research note on Monday, November 11th. Desjardins reduced their price target on shares of Saputo from C$34.00 to C$31.00 and set a "buy" rating on the stock in a research report on Monday. Jefferies Financial Group lowered 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. Royal Bank of Canada reduced their target price on Saputo from C$38.00 to C$35.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Finally, National Bankshares decreased their target price on Saputo from C$31.00 to C$28.00 in a research report on Wednesday, January 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$31.29.

Saputo Price Performance

Shares of SAP remained flat at C$24.30 during trading on Monday. The company's stock had a trading volume of 606,339 shares, compared to its average volume of 798,126. The company has a market cap of C$10.24 billion, a P/E ratio of -65.06, a price-to-earnings-growth ratio of 0.56 and a beta of 0.32. The company has a debt-to-equity ratio of 51.68, a quick ratio of 0.67 and a current ratio of 1.53. The business's fifty day moving average price is C$24.55 and its two-hundred day moving average price is C$27.32. Saputo has a one year low of C$22.59 and a one year high of C$32.15.

Saputo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 20th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.76 dividend on an annualized basis and a yield of 3.13%. Saputo's dividend payout ratio is currently -203.48%.

Insider Buying and Selling

In other news, Senior Officer Leanne Cutts bought 4,000 shares of the firm's stock in a transaction on Wednesday, November 27th. The stock was purchased at an average price of C$26.25 per share, for a total transaction of C$105,000.00. 40.45% of the stock is owned by company insiders.

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.