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.
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.
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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.
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