SYSCO (NYSE:SYY) had its price objective boosted by Credit Suisse Group from $76.00 to $79.00 in a research note released on Tuesday, BenzingaRatingsTable reports. Credit Suisse Group currently has an outperform rating on the stock.
Several other equities research analysts also recently issued reports on the company. ValuEngine raised SYSCO from a hold rating to a buy rating in a research note on Wednesday, May 29th. Consumer Edge began coverage on SYSCO in a research note on Wednesday, July 17th. They issued an underweight rating and a $71.75 price objective for the company. Pivotal Research reissued a sell rating and issued a $58.00 price objective (up from $54.00) on shares of SYSCO in a research note on Tuesday, May 7th. JPMorgan Chase & Co. reduced their price objective on SYSCO from $77.00 to $75.00 and set an overweight rating for the company in a research note on Tuesday, June 4th. Finally, Barclays increased their price objective on SYSCO from $70.00 to $71.00 and gave the stock an equal weight rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $74.48.
NYSE:SYY opened at $73.36 on Tuesday. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.30 and a quick ratio of 0.79. SYSCO has a 1-year low of $59.44 and a 1-year high of $75.98. The firm has a market cap of $35.97 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 1.87 and a beta of 0.52. The company has a fifty day moving average of $70.85.
SYSCO (NYSE:SYY) last announced its quarterly earnings data on Monday, August 12th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.03. The firm had revenue of $15.47 billion during the quarter, compared to the consensus estimate of $15.65 billion. SYSCO had a return on equity of 73.66% and a net margin of 2.65%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.94 EPS. On average, analysts anticipate that SYSCO will post 3.5 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, October 3rd. SYSCO’s dividend payout ratio (DPR) is presently 49.68%.
Several institutional investors and hedge funds have recently bought and sold shares of SYY. Dimensional Fund Advisors LP raised its stake in shares of SYSCO by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,401,640 shares of the company’s stock worth $87,825,000 after purchasing an additional 54,838 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of SYSCO by 20.5% during the 4th quarter. Geode Capital Management LLC now owns 6,331,895 shares of the company’s stock worth $396,070,000 after purchasing an additional 1,076,459 shares in the last quarter. First Manhattan Co. raised its stake in shares of SYSCO by 1.1% during the 1st quarter. First Manhattan Co. now owns 17,046 shares of the company’s stock worth $1,137,000 after purchasing an additional 189 shares in the last quarter. WP Advisors LLC purchased a new stake in shares of SYSCO during the 1st quarter worth about $39,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of SYSCO during the 1st quarter worth about $896,000. 78.30% of the stock is owned by institutional investors.
SYSCO Company Profile
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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