SYSCO Co. (NYSE:SYY) has earned a consensus rating of “Hold” from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $74.52.
SYY has been the topic of a number of research analyst reports. Consumer Edge assumed coverage on SYSCO in a research report on Wednesday, July 17th. They set an “underweight” rating and a $71.75 target price on the stock. Bank of America raised their price target on SYSCO from $76.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Credit Suisse Group raised their price target on SYSCO from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Wells Fargo & Co reissued a “buy” rating on shares of SYSCO in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. raised their price target on SYSCO from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th.
SYY opened at $78.84 on Thursday. The business’s 50-day simple moving average is $78.13 and its 200-day simple moving average is $73.18. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.81 and a current ratio of 1.33. SYSCO has a one year low of $59.44 and a one year high of $79.74. The stock has a market capitalization of $40.68 billion, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 2.18 and a beta of 0.48.
SYSCO (NYSE:SYY) last posted its earnings results on Monday, August 12th. The company reported $1.10 EPS for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.03. SYSCO had a return on equity of 76.80% and a net margin of 2.79%. The business had revenue of $15.47 billion for the quarter, compared to analysts’ expectations of $15.65 billion. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts forecast that SYSCO will post 3.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, October 3rd. SYSCO’s dividend payout ratio is currently 43.94%.
In other SYSCO news, EVP Paul T. Moskowitz sold 33,600 shares of SYSCO stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $78.83, for a total value of $2,648,688.00. Following the sale, the executive vice president now owns 87,268 shares of the company’s stock, valued at approximately $6,879,336.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas Bene sold 39,384 shares of SYSCO stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $78.12, for a total value of $3,076,678.08. Following the completion of the sale, the chief executive officer now directly owns 132,929 shares in the company, valued at approximately $10,384,413.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,893 shares of company stock worth $9,180,771. Corporate insiders own 5.24% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in SYY. Nuveen Asset Management LLC boosted its holdings in SYSCO by 1,804.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,587,054 shares of the company’s stock valued at $182,956,000 after purchasing an additional 2,451,242 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in shares of SYSCO by 334.8% during the 2nd quarter. Eagle Asset Management Inc. now owns 1,765,438 shares of the company’s stock worth $124,851,000 after acquiring an additional 1,359,384 shares in the last quarter. BlackRock Inc. boosted its stake in shares of SYSCO by 3.3% during the 2nd quarter. BlackRock Inc. now owns 31,130,419 shares of the company’s stock worth $2,201,542,000 after acquiring an additional 1,004,706 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of SYSCO by 1,060.1% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 1,086,842 shares of the company’s stock worth $76,861,000 after acquiring an additional 993,153 shares in the last quarter. Finally, Bahl & Gaynor Inc. boosted its stake in shares of SYSCO by 1,011.6% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,029,119 shares of the company’s stock worth $72,779,000 after acquiring an additional 936,539 shares in the last quarter. 78.43% of the stock is currently owned by institutional investors.
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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