Saputo Inc. (TSE:SAP) Raises Dividend to $0.19 Per Share

Saputo Inc. (TSE:SAP) declared a quarterly dividend on Thursday, August 8th, Zacks reports. Investors of record on Tuesday, September 10th will be paid a dividend of 0.19 per share on Friday, September 20th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Tuesday, September 10th. This is an increase from Saputo’s previous quarterly dividend of $0.19.

Saputo Stock Performance

TSE SAP traded down C$0.92 during trading hours on Friday, hitting C$30.64. The company had a trading volume of 286,343 shares, compared to its average volume of 415,206. The business has a 50 day moving average of C$30.58 and a 200-day moving average of C$28.32. The company has a market cap of C$13.00 billion, a PE ratio of 39.28, a price-to-earnings-growth ratio of 0.21 and a beta of 0.32. 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 58.27, a quick ratio of 0.67 and a current ratio of 1.55.

Saputo (TSE:SAP) last issued its quarterly earnings data on Thursday, June 6th. The company reported C$0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of C$0.37. The company had revenue of C$4.55 billion for the quarter, compared to analyst estimates of C$4.25 billion. Saputo had a return on equity of 4.76% and a net margin of 1.92%. As a group, equities research analysts expect that Saputo will post 1.915804 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Royal Bank of Canada raised their price objective on Saputo from C$36.00 to C$39.00 and gave the stock an “outperform” rating in a report on Tuesday, June 4th. TD Securities raised their price objective on Saputo from C$36.00 to C$37.00 and gave the stock a “buy” rating in a report on Monday, June 10th. BMO Capital Markets raised their price target on Saputo from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a report on Monday, June 10th. CIBC raised their price target on Saputo from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a report on Monday, June 10th. Finally, National Bankshares raised their price target on Saputo from C$35.00 to C$36.00 in a report on Friday, July 12th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Saputo currently has an average rating of “Buy” and an average price target of C$35.93.

Insider Activity at Saputo

In other news, Senior Officer Sindy Saragoca acquired 1,361 shares of Saputo stock in a transaction that occurred on Monday, June 17th. The stock was purchased at an average price of C$29.39 per share, for a total transaction of C$39,999.79. In other news, Senior Officer Richard Wallace acquired 4,950 shares of Saputo stock in a transaction that occurred on Wednesday, June 26th. The stock was purchased at an average price of C$30.48 per share, for a total transaction of C$150,899.76. Also, Senior Officer Sindy Saragoca acquired 1,361 shares of Saputo stock in a transaction that occurred on Monday, June 17th. The stock was purchased at an average price of C$29.39 per share, with a total value of C$39,999.79. 42.11% 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.