Several other equities analysts have also recently commented on the stock. Credit Suisse Group lowered their price target on shares of SYSCO from $80.00 to $75.00 and set a buy rating on the stock in a report on Tuesday. BMO Capital Markets lowered their price target on shares of SYSCO from $81.00 to $79.00 and set a buy rating on the stock in a report on Tuesday. Loop Capital lowered 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. ValuEngine cut shares of SYSCO from a buy rating to a hold rating in a report on Tuesday. Finally, Pivotal Research restated a sell rating and set a $62.00 price target on shares of SYSCO in a report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. SYSCO presently has an average rating of Hold and an average target price of $73.15.
Shares of SYSCO stock traded up $0.25 on Tuesday, hitting $66.81. 3,361,837 shares of the company traded hands, compared to its average volume of 2,891,820. The company has a quick ratio of 0.74, a current ratio of 1.30 and a debt-to-equity ratio of 3.00. SYSCO has a 12-month low of $53.65 and a 12-month high of $75.98. The stock has a market cap of $34.54 billion, a P/E ratio of 20.90, a P/E/G ratio of 1.92 and a beta of 0.56.
SYSCO (NYSE:SYY) last posted its quarterly earnings results on Monday, November 5th. The company reported $0.91 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.01). SYSCO had a net margin of 2.52% and a return on equity of 68.81%. The company had revenue of $15.22 billion for the quarter, compared to analysts’ expectations of $15.39 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. On average, equities research analysts expect that SYSCO will post 3.4 earnings per share for the current fiscal year.
In related news, Director Trian Fund Management, L.P. sold 2,115,358 shares of SYSCO stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $74.81, for a total value of $158,249,931.98. Following the completion of the sale, the director now owns 4,005 shares of the company’s stock, valued at approximately $299,614.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Brian R. Todd sold 9,147 shares of SYSCO stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $73.82, for a total transaction of $675,231.54. Following the completion of the sale, the senior vice president now directly owns 11,747 shares of the company’s stock, valued at approximately $867,163.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,969,811 shares of company stock valued at $297,370,093. 7.88% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in SYY. Blue Chip Partners Inc. acquired a new position in SYSCO during the 2nd quarter worth $104,000. Quad Cities Investment Group LLC acquired a new position in SYSCO during the 2nd quarter worth $111,000. Flagship Harbor Advisors LLC acquired a new position in SYSCO during the 2nd quarter worth $121,000. Fort L.P. acquired a new position in SYSCO during the 2nd quarter worth $123,000. Finally, Daiwa SB Investments Ltd. acquired a new position in SYSCO during the 3rd quarter worth $132,000. 80.11% of the stock is owned by institutional investors and hedge funds.
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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