The Successful Investor, in the September, 2019, issue, says hold Saputo Inc., recently $42. The Investor said buy 11 times from April, 2003, to January, 2011, at prices ranging from $22 to $49 (the stock split 2 for 1 on Dec. 6, 2007, and again on Sept. 30, 2014). Assuming a $1,000 investment for each of the 11 buys, the $11,000 position is now worth $48,132. Saputo is Canada's largest producer of dairy products. It also operates dairies in the United States, Australia and Argentina. In the quarter ended June 30, 2019, Saputo earned $164.9-million or 42 cents a share, up from $160.3-million or 41 cents a share in the same period a year earlier (excluding unusual items). Revenue rose to $3.67-billion from $3.27-billion. The gains largely reflect acquisitions of smaller dairy producers in Canada, the U.S. and Australia, as well as higher cheese and butter prices. Saputo remains a hold.
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