Saputo (TSE:SAP) Stock Passes Above 200 Day Moving Average – Should You Sell?

Saputo Inc. (TSE:SAP)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$40.88 and traded as high as C$41.94. Saputo shares last traded at C$41.85, with a volume of 808,857 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SAP. Canadian Imperial Bank of Commerce boosted their target price on shares of Saputo from C$40.00 to C$44.00 in a research note on Friday, January 30th. TD Securities boosted their target price on shares of Saputo from C$51.00 to C$52.00 and gave the company a “buy” rating in a research note on Sunday, February 15th. BMO Capital Markets boosted their target price on shares of Saputo from C$41.00 to C$42.00 and gave the company a “market perform” rating in a research note on Monday, February 9th. Scotiabank boosted their target price on shares of 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, Desjardins boosted their target price on shares of Saputo from C$45.00 to C$47.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Saputo currently has a consensus rating of “Moderate Buy” and a consensus price target of C$46.11.

Saputo Price Performance

The company has a quick ratio of 0.67, a current ratio of 1.64 and a debt-to-equity ratio of 59.15. The firm has a market capitalization of C$16.96 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 0.56 and a beta of 0.10. The stock’s 50 day moving average price is C$41.52 and its two-hundred day moving average price is C$40.88.

Saputo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, March 13th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. Saputo’s dividend payout ratio is 50.00%.

About Saputo

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.