Saputo (TSE:SAP) Stock Price Passes Above 200-Day Moving Average - Here's Why

Saputo Inc. (TSE:SAP - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$25.69 and traded as high as C$25.70. Saputo shares last traded at C$25.60, with a volume of 685,610 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Royal Bank of Canada decreased their target price on shares of Saputo from C$38.00 to C$35.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Scotiabank upgraded Saputo to a "strong-buy" rating in a research report on Tuesday, April 1st. 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 research report on Monday, December 23rd. TD Securities decreased their target price on shares of Saputo from C$37.00 to C$35.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Finally, CIBC dropped their price target on shares of Saputo from C$32.00 to C$29.00 in a research report on Monday, February 10th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of C$31.00.

Saputo Trading Up 2.2 %

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 firm has a market capitalization of C$11.04 billion, a PE ratio of -70.09, a P/E/G ratio of 0.56 and a beta of 0.32. The stock's 50-day simple moving average is C$25.15 and its 200-day simple moving average is C$25.61.

Saputo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, March 14th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.90%. The ex-dividend date was Tuesday, March 4th. Saputo's dividend payout ratio is currently -203.48%.

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.