Sysco Corp. (NYSE:SYY)‘s stock had its “hold” rating reaffirmed by investment analysts at Jefferies Group in a research report issued on Friday. They currently have a $50.00 price objective on the stock. Jefferies Group’s price target would suggest a potential upside of 1.98% from the company’s current price.
A number of other research analysts have also issued reports on the stock. Barclays PLC began coverage on shares of Sysco Corp. in a report on Friday, September 23rd. They issued an “underweight” rating and a $48.00 price objective for the company. Bank of America Corp. set a $54.00 price objective on shares of Sysco Corp. and gave the company a “hold” rating in a report on Saturday, September 17th. Vetr upgraded shares of Sysco Corp. from a “sell” rating to a “hold” rating and set a $50.25 price target for the company in a report on Monday, September 12th. Argus raised their price target on shares of Sysco Corp. from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 19th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $57.00 price target (up previously from $55.00) on shares of Sysco Corp. in a report on Tuesday, August 16th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $50.45.
Shares of Sysco Corp. (NYSE:SYY) traded down 0.41% on Friday, reaching $48.83. 902,287 shares of the company traded hands. The company has a market capitalization of $27.11 billion, a PE ratio of 29.77 and a beta of 0.56. The firm has a 50-day moving average price of $51.18 and a 200 day moving average price of $49.54. Sysco Corp. has a one year low of $38.34 and a one year high of $53.97.
Sysco Corp. (NYSE:SYY) last issued its quarterly earnings data on Monday, August 15th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The business earned $13.65 billion during the quarter, compared to analyst estimates of $13.68 billion. Sysco Corp. had a net margin of 1.89% and a return on equity of 28.67%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business earned $0.52 EPS. Equities analysts forecast that Sysco Corp. will post $2.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Wednesday, October 5th. Sysco Corp.’s dividend payout ratio is 75.15%.
In related news, insider William B. Day sold 75,000 shares of the business’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $51.53, for a total value of $3,864,750.00. Following the transaction, the insider now directly owns 201,283 shares of the company’s stock, valued at approximately $10,372,112.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William J. Delaney III sold 20,114 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $49.51, for a total transaction of $995,844.14. Following the completion of the transaction, the chief executive officer now directly owns 422,507 shares in the company, valued at $20,918,321.57. The disclosure for this sale can be found here. Company insiders own 7.77% of the company’s stock.
Several institutional investors have recently modified their holdings of SYY. Cribstone Capital Management LLC bought a new position in shares of Sysco Corp. during the second quarter worth $102,000. Jolley Asset Management LLC increased its position in shares of Sysco Corp. by 25.4% in the second quarter. Jolley Asset Management LLC now owns 2,150 shares of the company’s stock worth $109,000 after buying an additional 435 shares during the period. Tuttle Tactical Management LLC bought a new position in shares of Sysco Corp. during the second quarter worth $126,000. Global X Management Co. LLC increased its position in shares of Sysco Corp. by 175.4% in the second quarter. Global X Management Co. LLC now owns 2,542 shares of the company’s stock worth $129,000 after buying an additional 1,619 shares during the period. Finally, Bruderman Asset Management LLC increased its position in shares of Sysco Corp. by 2.5% in the second quarter. Bruderman Asset Management LLC now owns 2,788 shares of the company’s stock worth $141,000 after buying an additional 68 shares during the period. 76.65% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Sysco Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco Corp. and related companies with MarketBeat.com's FREE daily email newsletter.