Analysts Set Sysco (SYY) Target Price at $64.40

Sysco (NYSE:SYY) has earned a consensus rating of “Hold” from the fourteen research firms that are presently covering the stock, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $64.40.

Several research analysts have weighed in on the stock. Loop Capital lowered their target price on shares of Sysco from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Zacks Investment Research upgraded shares of Sysco from a “hold” rating to a “strong-buy” rating and set a $71.00 target price on the stock in a research report on Wednesday, January 10th. Bank of America upped their target price on shares of Sysco from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Jefferies Group set a $67.00 price target on shares of Sysco and gave the company a “hold” rating in a research report on Monday, February 5th. Finally, Citigroup increased their price target on shares of Sysco from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, March 27th.

How to Become a New Pot Stock Millionaire

SYY traded down $1.60 on Wednesday, hitting $58.36. 3,238,682 shares of the company were exchanged, compared to its average volume of 2,846,716. The company has a current ratio of 1.38, a quick ratio of 0.85 and a debt-to-equity ratio of 3.66. Sysco has a fifty-two week low of $48.85 and a fifty-two week high of $64.27. The firm has a market capitalization of $31,294.25, a P/E ratio of 23.53, a PEG ratio of 2.03 and a beta of 0.55.

Sysco (NYSE:SYY) last issued its earnings results on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. Sysco had a net margin of 2.10% and a return on equity of 61.02%. The company had revenue of $14.41 billion for the quarter, compared to analyst estimates of $14.15 billion. During the same period in the prior year, the business posted $0.58 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. analysts predict that Sysco will post 2.93 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 6th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.47%. Sysco’s dividend payout ratio is presently 58.06%.

In related news, insider Russell T. Libby sold 13,334 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $60.69, for a total transaction of $809,240.46. Following the transaction, the insider now owns 64,394 shares of the company’s stock, valued at $3,908,071.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP William W. Goetz sold 11,323 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $62.00, for a total transaction of $702,026.00. Following the transaction, the senior vice president now directly owns 35,825 shares in the company, valued at approximately $2,221,150. The disclosure for this sale can be found here. Insiders sold 164,704 shares of company stock worth $10,012,748 over the last quarter. Company insiders own 9.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Summit X LLC lifted its stake in shares of Sysco by 9.5% during the fourth quarter. Summit X LLC now owns 9,077 shares of the company’s stock valued at $551,000 after buying an additional 790 shares during the period. Fiduciary Trust Co. lifted its stake in shares of Sysco by 1.3% during the fourth quarter. Fiduciary Trust Co. now owns 62,376 shares of the company’s stock valued at $3,788,000 after buying an additional 824 shares during the period. Redmond Asset Management LLC lifted its stake in shares of Sysco by 13.8% during the fourth quarter. Redmond Asset Management LLC now owns 7,123 shares of the company’s stock valued at $433,000 after buying an additional 863 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Sysco by 7.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 12,315 shares of the company’s stock valued at $748,000 after buying an additional 866 shares during the period. Finally, Cognios Capital LLC lifted its stake in shares of Sysco by 2.3% during the fourth quarter. Cognios Capital LLC now owns 38,935 shares of the company’s stock valued at $2,362,000 after buying an additional 867 shares during the period. 79.03% of the stock is currently owned by institutional investors and hedge funds.

WARNING: “Analysts Set Sysco (SYY) Target Price at $64.40” was first posted by Enterprise Leader and is owned by of Enterprise Leader. If you are viewing this article on another publication, it was illegally stolen and republished in violation of US and international copyright and trademark laws. The original version of this article can be viewed at https://theenterpriseleader.com/2018/04/02/analysts-set-sysco-syy-target-price-at-64-40.html.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.

Analyst Recommendations for Sysco (NYSE:SYY)

Receive News & Ratings for Sysco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply