BMO Capital Markets Has Lowered Expectations for Saputo (TSE:SAP) Stock Price

Saputo (TSE:SAP) had its price objective lowered by BMO Capital Markets from C$30.00 to C$27.00 in a research report sent to investors on Friday,BayStreet.CA reports. The brokerage currently has a market perform rating on the stock.

A number of other brokerages have also recently issued reports on SAP. Desjardins set a C$34.00 price objective on Saputo in a research note on Monday, November 11th. Royal Bank of Canada reduced their price objective 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. TD Securities reduced their price objective on Saputo from C$38.00 to C$37.00 in a research note on Monday, November 11th. Finally, Jefferies Financial Group reduced their price objective on Saputo from C$36.00 to C$32.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$33.81.

Saputo Stock Down 3.8 %

SAP opened at C$23.31 on Friday. The stock has a market cap of C$9.89 billion, a PE ratio of 37.00, a P/E/G ratio of 0.56 and a beta of 0.32. The company has a quick ratio of 0.67, a current ratio of 1.59 and a debt-to-equity ratio of 53.17. Saputo has a 52 week low of C$22.96 and a 52 week high of C$32.15. The business’s fifty day simple moving average is C$25.84 and its 200 day simple moving average is C$28.47.

Saputo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 20th were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.76 annualized dividend and a dividend yield of 3.26%. Saputo’s payout ratio is presently 120.63%.

Insider Buying and Selling

In related news, Senior Officer Leanne Cutts acquired 4,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was acquired at an average cost of C$26.25 per share, for a total transaction of C$105,000.00. 40.45% of the stock is owned by 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.