Sysco Corp. (NYSE:SYY)‘s stock had its “hold” rating reiterated by research analysts at Jefferies Group in a research report issued to clients and investors on Friday. They presently have a $50.00 price target on the stock. Jefferies Group’s target price would indicate a potential upside of 2.21% from the stock’s previous close.
A number of other research firms also recently weighed in on SYY. Barclays PLC started coverage on shares of Sysco Corp. in a research report on Friday, September 23rd. They issued an “underweight” rating and a $48.00 price target for the company. Argus lifted their price target on shares of Sysco Corp. from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 19th. Bank of America Corp. set a $54.00 price target on shares of Sysco Corp. and gave the company a “hold” rating in a research report on Saturday, September 17th. Deutsche Bank AG started coverage on shares of Sysco Corp. in a research report on Monday, July 18th. They issued a “hold” rating and a $52.00 price target for the company. Finally, Vetr upgraded shares of Sysco Corp. from a “sell” rating to a “hold” rating and set a $50.25 price target for the company in a research report on Monday, September 12th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Sysco Corp. presently has an average rating of “Hold” and a consensus target price of $50.45.
Sysco Corp. (NYSE:SYY) opened at 48.92 on Friday. The company has a market capitalization of $27.16 billion, a price-to-earnings ratio of 29.83 and a beta of 0.52. Sysco Corp. has a 12 month low of $38.84 and a 12 month high of $53.97. The firm has a 50-day moving average price of $51.01 and a 200-day moving average price of $49.64.
Sysco Corp. (NYSE:SYY) last released its quarterly earnings results on Monday, August 15th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. Sysco Corp. had a net margin of 1.89% and a return on equity of 28.67%. The company earned $13.65 billion during the quarter, compared to the consensus estimate of $13.68 billion. During the same period in the previous year, the business earned $0.52 earnings per share. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. On average, equities analysts anticipate that Sysco Corp. will post $2.31 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 7th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.24 annualized dividend and a dividend yield of 2.53%. Sysco Corp.’s dividend payout ratio is 75.15%.
In related news, insider William B. Day sold 20,000 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $51.89, for a total value of $1,037,800.00. Following the sale, the insider now owns 106,283 shares of the company’s stock, valued at $5,515,024.87. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Joel T. Grade sold 16,368 shares of the business’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 completion of the sale, the chief financial officer now directly owns 60,031 shares in the company, valued at approximately $3,122,212.31. The disclosure for this sale can be found here. 7.77% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Kistler Tiffany Companies LLC boosted its stake 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 in the last quarter. Blue Chip Partners Inc. boosted its stake 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 worth $147,000 after buying an additional 19 shares during the period. Hanson McClain Inc. boosted its stake 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 worth $215,000 after buying an additional 45 shares during the period. Crawford Investment Counsel Inc. boosted its stake 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 worth $301,000 after buying an additional 67 shares during the period. Finally, Bruderman Asset Management LLC boosted its stake 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 worth $141,000 after buying an additional 68 shares during the period. 76.65% of the stock is currently owned by institutional investors.
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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