SYSCO Co. (SYY) Given Average Rating of “Buy” by Brokerages

SYSCO Co. (NYSE:SYY) has been assigned a consensus recommendation of “Buy” from the fifteen research firms that are covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $60.25.

Several analysts recently commented on the stock. Loop Capital raised their price objective on shares of SYSCO from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Pivotal Research raised their price objective on shares of SYSCO from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Morgan Stanley upgraded shares of SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price objective for the company in a research note on Tuesday, January 16th. Zacks Investment Research upgraded shares of SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective for the company in a research note on Wednesday, January 10th. Finally, BMO Capital Markets set a $66.00 price objective on shares of SYSCO and gave the company a “buy” rating in a research note on Friday, December 8th.

Shares of SYSCO (NYSE:SYY) opened at $57.48 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 3.77. SYSCO has a 52 week low of $48.85 and a 52 week high of $64.27. The company has a market cap of $29,950.00, a PE ratio of 26.25, a P/E/G ratio of 2.39 and a beta of 0.56.

SYSCO (NYSE:SYY) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.13. SYSCO had a net margin of 2.12% and a return on equity of 58.47%. The firm had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $14.15 billion. During the same quarter last year, the business earned $0.58 earnings per share. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. research analysts forecast that SYSCO will post 2.85 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, January 5th were issued a dividend of $0.36 per share. This is an increase from SYSCO’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend was Thursday, January 4th. SYSCO’s dividend payout ratio (DPR) is 65.75%.

In other SYSCO news, CEO William J. Delaney III sold 150,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $54.05, for a total transaction of $8,107,500.00. Following the completion of the transaction, the chief executive officer now directly owns 526,725 shares in the company, valued at approximately $28,469,486.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William W. Goetz sold 11,323 shares of the firm’s stock in a transaction dated 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 owns 35,825 shares of the company’s stock, valued at $2,221,150. The disclosure for this sale can be found here. Insiders have sold a total of 294,695 shares of company stock valued at $16,866,723 over the last 90 days. 9.60% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of SYY. Janus Henderson Group PLC increased its holdings in SYSCO by 9,055.0% during the 2nd quarter. Janus Henderson Group PLC now owns 5,707,603 shares of the company’s stock valued at $287,264,000 after acquiring an additional 5,645,259 shares in the last quarter. Capital World Investors grew its holdings in shares of SYSCO by 11.7% during the second quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock worth $692,893,000 after buying an additional 1,445,000 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of SYSCO by 252.7% during the second quarter. Nordea Investment Management AB now owns 1,928,089 shares of the company’s stock worth $97,041,000 after buying an additional 1,381,441 shares in the last quarter. Parnassus Investments CA grew its holdings in shares of SYSCO by 20.3% during the third quarter. Parnassus Investments CA now owns 7,410,401 shares of the company’s stock worth $399,791,000 after buying an additional 1,250,005 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of SYSCO by 21.1% during the third quarter. American Century Companies Inc. now owns 6,120,917 shares of the company’s stock worth $330,223,000 after buying an additional 1,065,987 shares in the last quarter. Hedge funds and other institutional investors own 80.09% of the company’s stock.

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SYSCO Company Profile

Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.

Analyst Recommendations for SYSCO (NYSE:SYY)

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