CIBC Cuts Saputo (TSE:SAP) Price Target to C$29.00

Saputo (TSE:SAP) had its price objective trimmed by CIBC from C$32.00 to C$29.00 in a research report released on Monday morning,BayStreet.CA reports.

Several other equities analysts also recently issued reports on the stock. National Bankshares reduced their price objective on shares of Saputo from C$31.00 to C$28.00 in a research note on Wednesday, January 15th. BMO Capital Markets reduced their price objective on shares of Saputo from C$30.00 to C$27.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Royal Bank of Canada reduced their price objective on shares of Saputo from C$38.00 to C$35.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Jefferies Financial Group dropped their price target on shares of 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. Finally, TD Securities dropped their price target on shares of Saputo from C$38.00 to C$37.00 in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$31.29.

Saputo Stock Performance

Shares of SAP opened at C$24.30 on Monday. The company has a debt-to-equity ratio of 53.17, a quick ratio of 0.67 and a current ratio of 1.59. The company has a market capitalization of C$10.31 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 0.56 and a beta of 0.32. The company’s 50 day simple moving average is C$24.61 and its 200 day simple moving average is C$27.34. Saputo has a 1 year low of C$22.59 and a 1 year high of C$32.15.

Saputo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Tuesday, December 10th. Saputo’s payout ratio is currently 120.63%.

Insider Transactions at Saputo

In other Saputo news, Senior Officer Leanne Cutts acquired 4,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was bought at an average price of C$26.25 per share, with a total value of C$105,000.00. Company 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.