SYSCO Co. (NYSE:SYY) has received a consensus recommendation of “Hold” from the fourteen research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $73.75.
A number of research analysts have weighed in on the stock. Pivotal Research boosted their target price on shares of SYSCO from $58.00 to $62.00 and gave the stock a “sell” rating in a research report on Saturday, August 18th. Loop Capital boosted their target price on shares of SYSCO to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, August 14th. Argus boosted their target price on shares of SYSCO from $67.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, August 16th. BMO Capital Markets upped their price objective on shares of SYSCO from $74.00 to $81.00 and gave the company an “outperform” rating in a research report on Tuesday, August 14th. Finally, Morgan Stanley upped their price objective on shares of SYSCO from $67.00 to $71.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 14th.
SYSCO stock traded down $0.92 on Monday, reaching $65.02. 2,773,302 shares of the stock were exchanged, compared to its average volume of 3,334,427. The firm has a market cap of $34.27 billion, a price-to-earnings ratio of 20.71, a P/E/G ratio of 1.87 and a beta of 0.54. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.30 and a quick ratio of 0.80. SYSCO has a twelve month low of $56.01 and a twelve month high of $75.98.
SYSCO (NYSE:SYY) last released its earnings results on Monday, November 5th. The company reported $0.91 earnings per share 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 analyst estimates of $15.39 billion. SYSCO had a return on equity of 68.81% and a net margin of 2.52%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 EPS. As a group, sell-side analysts expect that SYSCO will post 3.4 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 25th. Stockholders of record on Friday, January 4th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, January 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.40%. This is a positive change from SYSCO’s previous quarterly dividend of $0.36. SYSCO’s dividend payout ratio is currently 45.86%.
In other news, Director Joshua D. Frank sold 1,013,666 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $75.09, for a total transaction of $76,116,179.94. Following the completion of the transaction, the director now owns 4,005 shares of the company’s stock, valued at $300,735.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Trian Fund Management, L.P. sold 1,524,475 shares of the company’s stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $66.50, for a total transaction of $101,377,587.50. Following the completion of the sale, the director now directly owns 7,055 shares in the company, valued at approximately $469,157.50. The disclosure for this sale can be found here. Insiders have sold 6,884,031 shares of company stock valued at $484,008,301 in the last ninety days. 7.88% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of SYY. Bank of America Corp DE increased its stake in SYSCO by 64.6% in the second quarter. Bank of America Corp DE now owns 17,662,742 shares of the company’s stock valued at $1,206,188,000 after acquiring an additional 6,929,805 shares during the period. Morgan Stanley increased its stake in SYSCO by 83.0% in the second quarter. Morgan Stanley now owns 3,896,733 shares of the company’s stock valued at $266,109,000 after acquiring an additional 1,767,298 shares during the period. Vanguard Group Inc. increased its stake in SYSCO by 3.9% in the third quarter. Vanguard Group Inc. now owns 41,599,601 shares of the company’s stock valued at $3,047,170,000 after acquiring an additional 1,549,255 shares during the period. Renaissance Technologies LLC increased its stake in SYSCO by 342.2% in the third quarter. Renaissance Technologies LLC now owns 1,977,518 shares of the company’s stock valued at $144,853,000 after acquiring an additional 1,530,318 shares during the period. Finally, Alliancebernstein L.P. increased its stake in SYSCO by 56.5% in the third quarter. Alliancebernstein L.P. now owns 1,319,642 shares of the company’s stock valued at $96,664,000 after acquiring an additional 476,555 shares during the period. 79.31% of the stock is currently owned by institutional investors and hedge funds.
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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