SYSCO (NYSE:SYY) had its price objective reduced by Pivotal Research from $68.00 to $61.00 in a research report sent to investors on Tuesday, February 6th, MarketBeat.com reports. Pivotal Research currently has a buy rating on the stock.
A number of other equities analysts have also weighed in on SYY. BMO Capital Markets set a $74.00 price target on shares of SYSCO and gave the stock a buy rating in a research report on Monday, February 5th. Jefferies Group set a $67.00 target price on shares of SYSCO and gave the company a hold rating in a report on Monday, February 5th. Royal Bank of Canada reiterated a sector perform rating and issued a $61.00 target price on shares of SYSCO in a report on Tuesday, February 6th. Loop Capital boosted their target price on shares of SYSCO from $68.00 to $72.00 and gave the company a buy rating in a report on Wednesday, January 31st. Finally, Morgan Stanley raised shares of SYSCO from an underweight rating to an equal weight rating and set a $64.00 price target on the stock in a research note on Tuesday, January 16th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $65.20.
Shares of SYSCO (NYSE SYY) traded down $0.09 during midday trading on Tuesday, hitting $58.33. 123,918 shares of the stock traded hands, compared to its average volume of 2,658,452. SYSCO has a 1-year low of $48.85 and a 1-year high of $64.27. The firm has a market capitalization of $30,339.14, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 1.95 and a beta of 0.56. 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 (NYSE:SYY) last announced its earnings results on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $14.41 billion for the quarter, compared to analyst estimates of $14.15 billion. SYSCO had a net margin of 2.10% and a return on equity of 61.02%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.58 earnings per share. equities analysts expect that SYSCO will post 2.95 EPS for the current fiscal year.
The company also recently declared 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 represents a $1.44 annualized dividend and a yield of 2.47%. The ex-dividend date was Thursday, January 4th. This is a boost from SYSCO’s previous quarterly dividend of $0.33. SYSCO’s payout ratio is 64.29%.
In other news, SVP William W. Goetz sold 11,323 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $62.00, for a total value of $702,026.00. Following the completion of the transaction, the senior vice president now owns 35,825 shares in the company, valued at approximately $2,221,150. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Wayne Shurts sold 15,600 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $56.66, for a total transaction of $883,896.00. Following the completion of the transaction, the insider now owns 56,985 shares of the company’s stock, valued at approximately $3,228,770.10. The disclosure for this sale can be found here. Insiders have sold a total of 144,695 shares of company stock valued at $8,759,223 in the last quarter. 9.60% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Profund Advisors LLC boosted its stake in SYSCO by 17.6% during the 4th quarter. Profund Advisors LLC now owns 15,974 shares of the company’s stock worth $970,000 after purchasing an additional 2,390 shares during the period. Merit Financial Group LLC purchased a new position in SYSCO during the 4th quarter worth $375,000. Pitcairn Co. raised its position in SYSCO by 25.6% during the 4th quarter. Pitcairn Co. now owns 24,036 shares of the company’s stock worth $1,459,000 after buying an additional 4,892 shares during the last quarter. Wayne Hummer Investments L.L.C. purchased a new position in SYSCO during the 4th quarter worth $211,000. Finally, MML Investors Services LLC raised its position in SYSCO by 9.6% during the 4th quarter. MML Investors Services LLC now owns 16,062 shares of the company’s stock worth $975,000 after buying an additional 1,411 shares during the last quarter. Hedge funds and other institutional investors own 79.35% 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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