Sysco Corp. (NYSE:SYY) has been given an average rating of “Hold” by the fifteen analysts that are covering the stock. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $50.94.
A number of brokerages have recently commented on SYY. Bank of America Corp. set a $54.00 price target on Sysco Corp. and gave the stock a “hold” rating in a report on Saturday, September 17th. Jefferies Group restated a “hold” rating and set a $50.00 price objective on shares of Sysco Corp. in a research report on Friday. Argus boosted their price objective on Sysco Corp. from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 19th. Barclays PLC started coverage on Sysco Corp. in a research report on Friday, September 23rd. They set an “underweight” rating and a $48.00 price objective on the stock. Finally, Vetr upgraded Sysco Corp. from a “strong sell” rating to a “hold” rating and set a $52.00 price objective on the stock in a research report on Monday, July 18th.
In other news, CFO Joel T. Grade sold 16,368 shares of the company’s stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $52.01, for a total transaction of $851,299.68. Following the transaction, the chief financial officer now owns 60,031 shares of the company’s stock, valued at $3,122,212.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William B. Day sold 75,000 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $51.53, for a total value of $3,864,750.00. Following the transaction, the insider now directly owns 201,283 shares in the company, valued at approximately $10,372,112.99. The disclosure for this sale can be found here. 7.77% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Kistler Tiffany Companies LLC raised its position in shares of Sysco Corp. by 0.5% in the second quarter. Kistler Tiffany Companies LLC now owns 2,866 shares of the company’s stock valued at $145,000 after buying an additional 13 shares during the period. Blue Chip Partners Inc. raised its position in shares of Sysco Corp. by 0.7% in the second quarter. Blue Chip Partners Inc. now owns 2,894 shares of the company’s stock valued at $147,000 after buying an additional 19 shares during the period. Hanson McClain Inc. raised its position in shares of Sysco Corp. by 1.1% in the second quarter. Hanson McClain Inc. now owns 4,244 shares of the company’s stock valued at $215,000 after buying an additional 45 shares during the period. Crawford Investment Counsel Inc. raised its position in shares of Sysco Corp. by 1.1% in the second quarter. Crawford Investment Counsel Inc. now owns 5,937 shares of the company’s stock valued at $301,000 after buying an additional 67 shares during the period. Finally, Bruderman Asset Management LLC raised its position in shares of Sysco Corp. by 2.5% in the second quarter. Bruderman Asset Management LLC now owns 2,788 shares of the company’s stock valued at $141,000 after buying an additional 68 shares during the period. 76.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sysco Corp. (NYSE:SYY) traded up 0.39% during midday trading on Friday, hitting $49.22. 1,813,572 shares of the company were exchanged. Sysco Corp. has a one year low of $38.34 and a one year high of $53.97. The firm has a market cap of $27.32 billion, a P/E ratio of 30.01 and a beta of 0.56. The company’s 50 day moving average price is $51.18 and its 200 day moving average price is $49.54.
Sysco Corp. (NYSE:SYY) last issued its quarterly earnings results on Monday, August 15th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. Sysco Corp. had a return on equity of 28.67% and a net margin of 1.89%. The company earned $13.65 billion during the quarter, compared to analyst estimates of $13.68 billion. During the same period in the previous year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities analysts expect that Sysco Corp. will post $2.31 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Wednesday, October 5th. Sysco Corp.’s dividend payout ratio is currently 75.15%.
Sysco Corp. Company Profile
Sysco Corporation (Sysco) along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company provides products and related services to approximately 425,000 customers, including restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers.
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