Royal Bank of Canada set a $67.00 price target on SYSCO (NYSE:SYY) in a research note issued to investors on Friday. The firm currently has a hold rating on the stock.
A number of other equities analysts also recently weighed in on the company. Buckingham Research began coverage on SYSCO in a report on Monday, October 22nd. They issued a buy rating and a $82.00 target price on the stock. Pivotal Research boosted their price target on SYSCO from $58.00 to $62.00 and gave the company a sell rating in a research note on Saturday, August 18th. Argus boosted their price target on SYSCO from $67.00 to $86.00 and gave the company a buy rating in a research note on Thursday, August 16th. Loop Capital boosted their price target on SYSCO to $80.00 and gave the company a buy rating in a research note on Tuesday, August 14th. Finally, BMO Capital Markets boosted their price target on SYSCO from $74.00 to $81.00 and gave the company an outperform rating in a research note on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $73.62.
Shares of SYY traded down $7.61 during trading hours on Friday, reaching $63.68. The company’s stock had a trading volume of 95,132 shares, compared to its average volume of 2,381,205. The company has a market capitalization of $37.12 billion, a price-to-earnings ratio of 20.29, a P/E/G ratio of 1.93 and a beta of 0.56. SYSCO has a 1-year low of $52.30 and a 1-year high of $75.98. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.21 and a quick ratio of 0.74.
SYSCO (NYSE:SYY) last issued its earnings results on Monday, November 5th. The company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.01). The business had revenue of $15.22 billion during the quarter, compared to analyst estimates of $15.39 billion. SYSCO had a net margin of 2.44% and a return on equity of 68.15%. SYSCO’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. Equities research analysts expect that SYSCO will post 3.48 earnings per share for the current fiscal year.
In other SYSCO news, SVP Brian R. Todd sold 9,147 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $73.82, for a total transaction of $675,231.54. Following the completion of the sale, the senior vice president now owns 11,747 shares of the company’s stock, valued at $867,163.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard G. Tilghman sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $73.82, for a total value of $369,100.00. Following the sale, the director now directly owns 66,137 shares of the company’s stock, valued at approximately $4,882,233.34. The disclosure for this sale can be found here. In the last three months, insiders sold 3,969,811 shares of company stock valued at $297,370,093. 7.88% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in SYY. Blue Chip Partners Inc. bought a new stake in SYSCO during the second quarter worth approximately $104,000. Quad Cities Investment Group LLC bought a new stake in SYSCO during the second quarter worth approximately $111,000. Flagship Harbor Advisors LLC bought a new stake in SYSCO during the second quarter worth approximately $121,000. Fort L.P. bought a new stake in SYSCO during the second quarter worth approximately $123,000. Finally, Daiwa SB Investments Ltd. bought a new stake in SYSCO during the third quarter worth approximately $132,000. 80.11% of the stock is owned by hedge funds and other institutional investors.
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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