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.
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