SYSCO (SYY) Given New $61.00 Price Target at Pivotal Research

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.

Analyst Recommendations for SYSCO (NYSE:SYY)

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