SYSCO (NYSE:SYY) had its price target lowered by analysts at Royal Bank of Canada from $67.00 to $65.00 in a report released on Tuesday. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 0.85% from the company’s previous close.
SYY has been the topic of a number of other reports. Loop Capital cut their price target on shares of SYSCO to $75.00 and set a “buy” rating on the stock in a report on Tuesday. They noted that the move was a valuation call. BMO Capital Markets set a $79.00 price target on shares of SYSCO and gave the stock a “buy” rating in a report on Tuesday. Credit Suisse Group set a $75.00 price target on shares of SYSCO and gave the stock a “buy” rating in a report on Tuesday. ValuEngine downgraded shares of SYSCO from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Morgan Stanley set a $69.00 price target on shares of SYSCO and gave the stock a “hold” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $73.15.
SYY traded down $0.11 during mid-day trading on Tuesday, reaching $64.45. 3,943,692 shares of the stock were exchanged, compared to its average volume of 2,708,856. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.21 and a quick ratio of 0.74. The company has a market capitalization of $37.12 billion, a price-to-earnings ratio of 20.53, 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.
SYSCO (NYSE:SYY) last posted its quarterly earnings data on Monday, November 5th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.01). The firm had revenue of $15.22 billion for the quarter, compared to analysts’ expectations of $15.39 billion. SYSCO had a return on equity of 68.15% and a net margin of 2.44%. SYSCO’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. As a group, equities analysts anticipate that SYSCO will post 3.48 EPS for the current year.
In related news, Director Trian Fund Management, L.P. sold 2,115,358 shares of the business’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $74.81, for a total value of $158,249,931.98. Following the sale, the director now directly owns 4,005 shares in the company, valued at approximately $299,614.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard G. Tilghman sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $73.82, for a total value of $369,100.00. Following the completion of the sale, the director now owns 66,137 shares in the company, valued at $4,882,233.34. The disclosure for this sale can be found here. Insiders sold a total of 3,969,811 shares of company stock worth $297,370,093 over the last three months. 7.88% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Blue Chip Partners Inc. bought a new stake in SYSCO in the 2nd quarter valued at about $104,000. Quad Cities Investment Group LLC bought a new stake in shares of SYSCO during the second quarter valued at about $111,000. Flagship Harbor Advisors LLC bought a new stake in shares of SYSCO during the second quarter valued at about $121,000. Daiwa SB Investments Ltd. bought a new stake in shares of SYSCO during the third quarter valued at about $132,000. Finally, Fort L.P. bought a new stake in shares of SYSCO during the second quarter valued at about $123,000. Institutional investors and hedge funds own 80.11% of the company’s stock.
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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