Shares of Sysco Corp. (NYSE:SYY) have been assigned an average rating of “Hold” from the fifteen analysts that are covering the firm. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $50.94.
A number of brokerages have recently weighed in on SYY. Argus boosted their price objective on shares of Sysco Corp. from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, August 19th. Bank of America Corp. set a $54.00 price objective on shares of Sysco Corp. and gave the stock a “hold” rating in a research note on Saturday, September 17th. Vetr upgraded shares of Sysco Corp. from a “sell” rating to a “hold” rating and set a $50.25 price objective for the company in a research note on Monday, September 12th. Deutsche Bank AG began coverage on shares of Sysco Corp. in a research note on Monday, July 18th. They issued a “hold” rating and a $52.00 price objective for the company. Finally, BMO Capital Markets restated a “hold” rating and issued a $52.00 price objective on shares of Sysco Corp. in a research note on Thursday, June 16th.
In other news, CFO Joel T. Grade sold 16,368 shares of the company’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $52.01, for a total value of $851,299.68. Following the sale, the chief financial officer now owns 60,031 shares of the company’s stock, valued at approximately $3,122,212.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William J. Delaney III sold 20,114 shares of the company’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $51.96, for a total transaction of $1,045,123.44. Following the completion of the sale, the chief executive officer now directly owns 422,507 shares in the company, valued at approximately $21,953,463.72. The disclosure for this sale can be found here. 7.77% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of SYY. Cribstone Capital Management LLC purchased a new stake in Sysco Corp. during the second quarter valued at $102,000. Jolley Asset Management LLC raised its stake in Sysco Corp. by 25.4% in the second quarter. Jolley Asset Management LLC now owns 2,150 shares of the company’s stock valued at $109,000 after buying an additional 435 shares during the last quarter. Tuttle Tactical Management LLC purchased a new stake in Sysco Corp. during the second quarter valued at $126,000. Global X Management Co. LLC raised its stake in Sysco Corp. by 175.4% in the second quarter. Global X Management Co. LLC now owns 2,542 shares of the company’s stock valued at $129,000 after buying an additional 1,619 shares during the last quarter. Finally, Bruderman Asset Management LLC raised its stake in Sysco Corp. by 2.5% in the second quarter. Bruderman Asset Management LLC now owns 2,788 shares of the company’s stock valued at $141,000 after buying an additional 68 shares during the last quarter. 76.65% of the stock is currently owned by institutional investors and hedge funds.
Sysco Corp. (NYSE:SYY) opened at 48.11 on Friday. The stock has a 50 day moving average of $50.89 and a 200 day moving average of $49.65. Sysco Corp. has a 12-month low of $38.84 and a 12-month high of $53.97. The firm has a market capitalization of $26.71 billion, a price-to-earnings ratio of 29.34 and a beta of 0.52.
Sysco Corp. (NYSE:SYY) last posted its earnings results on Monday, August 15th. The company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The company earned $13.65 billion during the quarter, compared to the consensus estimate of $13.68 billion. Sysco Corp. had a net margin of 1.89% and a return on equity of 28.67%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 earnings per share. Equities research analysts anticipate that Sysco Corp. will post $2.31 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Wednesday, October 5th. Sysco Corp.’s dividend payout ratio (DPR) is presently 75.15%.
About Sysco Corp.
Sysco Corporation (Sysco) along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company provides products and related services to approximately 425,000 customers, including restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers.
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