Insider Buying: Saputo Inc. (TSE:SAP) Director Purchases 3,329 Shares of Stock

Saputo Inc. (TSE:SAP – Get Rating) Director Haig Poutchigian purchased 3,329 shares of the company’s stock in a transaction that occurred on Tuesday, June 14th. The shares were purchased at an average price of C$27.03 per share, for a total transaction of C$89,982.87. Following the transaction, the director now owns 8,741 shares of the company’s stock, valued at approximately C$236,269.23.

Shares of TSE SAP opened at C$27.88 on Thursday. The company’s 50-day simple moving average is C$27.09 and its 200-day simple moving average is C$28.63. Saputo Inc. has a 52-week low of C$24.61 and a 52-week high of C$37.75. The firm has a market cap of C$11.62 billion and a price-to-earnings ratio of 42.24. The company has a quick ratio of 0.62, a current ratio of 1.55 and a debt-to-equity ratio of 65.26.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 28th. Stockholders of record on Tuesday, June 21st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Monday, June 20th. Saputo’s dividend payout ratio is currently 107.58%.

Several analysts recently commented on the stock. National Bankshares dropped their price target on shares of Saputo from C$31.00 to C$30.00 and set an “outperform” rating on the stock in a research report on Friday, June 10th. Scotiabank dropped their price target on shares of Saputo from C$37.00 to C$36.00 in a research report on Friday, June 10th. Royal Bank of Canada dropped their price target on shares of Saputo from C$37.00 to C$35.00 and set an “outperform” rating on the stock in a research report on Thursday, April 28th. Finally, CIBC dropped their price target on shares of Saputo from C$36.00 to C$35.00 in a research report on Friday, June 10th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Saputo has an average rating of “Buy” and an average target price of C$36.11.

About Saputo (Get Rating)

Saputo Inc, through its subsidiaries, 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.

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