Patrick Turcotte Sells 2,071 Shares of Saputo (TSE:SAP) Stock

Saputo Inc. (TSE:SAP) insider Patrick Turcotte sold 2,071 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of C$42.18, for a total transaction of C$87,354.78. Following the transaction, the insider owned 8,336 shares in the company, valued at C$351,612.48. The trade was a 19.90% decrease in their position.

Patrick Turcotte also recently made the following trade(s):

• On Wednesday, February 18th, Patrick Turcotte sold 488 shares of Saputo stock. The stock was sold at an average price of C$42.19, for a total transaction of C$20,588.72.
• On Wednesday, February 18th, Patrick Turcotte sold 100 shares of Saputo stock. The shares were sold at an average price of C$42.25, for a total transaction of C$4,225.00.

Saputo Stock Performance

Shares of TSE SAP traded up C$0.11 during mid-day trading on Friday, hitting C$42.89. The stock had a trading volume of 1,237,796 shares, compared to its average volume of 1,021,981. The company has a debt-to-equity ratio of 59.15, a quick ratio of 0.67 and a current ratio of 1.64. The company has a 50 day moving average of C$41.82 and a two-hundred day moving average of C$38.00. Saputo Inc. has a twelve month low of C$23.94 and a twelve month high of C$44.00. The firm has a market cap of C$17.38 billion, a PE ratio of 27.49, a PEG ratio of 0.56 and a beta of 0.13.

Saputo (TSE:SAP) last issued its quarterly earnings results on Thursday, February 5th. The company reported C$0.57 EPS for the quarter. The company had revenue of C$4.89 billion during the quarter. Saputo had a return on equity of 9.50% and a net margin of 3.39%. Research analysts predict that Saputo Inc. will post 1.7735369 EPS for the current fiscal year.

Saputo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, March 13th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. Saputo’s dividend payout ratio (DPR) is currently 50.00%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SAP shares. Royal Bank Of Canada increased their price objective on shares of Saputo from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Sunday, February 8th. Canadian Imperial Bank of Commerce boosted their target price on shares of Saputo from C$40.00 to C$44.00 in a research report on Friday, January 30th. TD Securities increased their price target on Saputo from C$51.00 to C$52.00 and gave the stock a “buy” rating in a research report on Sunday, February 15th. Scotiabank lifted their price objective on Saputo from C$47.00 to C$49.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Finally, BMO Capital Markets boosted their price objective on Saputo from C$41.00 to C$42.00 and gave the company a “market perform” rating in a report on Monday, February 9th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$46.25.

Saputo Company Profile

Saputo is a global dairy processor domiciled in Canada (28% of fiscal 2022 sales) with operations in the United States (43%), the U.K. (6%), and other international markets (23%). It sells cheese, cream, fluid milk, and other dairy products. In the retail segment (50% of revenue), its mix of brands include Saputo, Armstrong, Cheer, Cathedral City, and Frylight. Saputo also competes in food service (30% of revenue) and industrials (20% of revenue), which houses its ingredients business.