Insider Buying: Saputo Inc. (TSE:SAP) Director Purchases C$89,982.87 in Stock

Saputo Inc. (TSE:SAP – Get Rating) Director Haig Poutchigian purchased 3,329 shares of the business’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 completion of the acquisition, the director now directly owns 8,741 shares in the company, valued at approximately C$236,269.23.

TSE SAP opened at C$27.88 on Thursday. The company has a debt-to-equity ratio of 65.26, a quick ratio of 0.62 and a current ratio of 1.55. The firm’s 50 day moving average price is C$27.09 and its 200-day moving average price 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 company has a market cap of C$11.62 billion and a PE ratio of 42.24.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 28th. Investors of record on Tuesday, June 21st will be given a dividend of $0.18 per share. The ex-dividend date is Monday, June 20th. This represents a $0.72 dividend on an annualized basis and a yield of 2.58%. Saputo’s payout ratio is 107.58%.

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