SYSCO Co. (NYSE:SYY) has been assigned a consensus recommendation of “Hold” from the fourteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $73.75.
Several equities research analysts recently commented on the company. Pivotal Research boosted their target price on SYSCO from $58.00 to $62.00 and gave the stock a “sell” rating in a report on Saturday, August 18th. Loop Capital boosted their target price on SYSCO to $80.00 and gave the stock a “buy” rating in a report on Tuesday, August 14th. Argus upped their price target on SYSCO from $67.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, August 16th. BMO Capital Markets upped their price target on SYSCO from $74.00 to $81.00 and gave the company an “outperform” rating in a report on Tuesday, August 14th. Finally, Morgan Stanley upped their price target on SYSCO from $67.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday, August 14th.
In other SYSCO news, Director Joshua D. Frank sold 1,013,666 shares of SYSCO stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $75.09, for a total transaction of $76,116,179.94. Following the transaction, the director now directly owns 4,005 shares in the company, valued at approximately $300,735.45. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Trian Fund Management, L.P. sold 1,524,475 shares of SYSCO stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $66.50, for a total transaction of $101,377,587.50. Following the transaction, the director now owns 7,055 shares in the company, valued at $469,157.50. The disclosure for this sale can be found here. Insiders sold 6,884,031 shares of company stock worth $484,008,301 in the last ninety days. 7.88% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of SYY. Quad Cities Investment Group LLC purchased a new position in SYSCO during the 2nd quarter worth approximately $111,000. Matthew Goff Investment Advisor LLC purchased a new position in shares of SYSCO during the 3rd quarter valued at $120,000. Flagship Harbor Advisors LLC purchased a new position in shares of SYSCO during the 2nd quarter valued at $121,000. Fort L.P. purchased a new position in shares of SYSCO during the 2nd quarter valued at $123,000. Finally, Daiwa SB Investments Ltd. purchased a new position in shares of SYSCO during the 3rd quarter valued at $132,000. Hedge funds and other institutional investors own 79.31% of the company’s stock.
NYSE:SYY traded down $0.92 during midday trading on Monday, hitting $65.02. 2,773,302 shares of the stock were exchanged, compared to its average volume of 3,334,427. SYSCO has a one year low of $56.01 and a one year high of $75.98. The stock has a market cap of $34.27 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.87 and a beta of 0.54. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.30 and a quick ratio of 0.80.
SYSCO (NYSE:SYY) last announced its earnings results on Monday, November 5th. The company reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.01). SYSCO had a return on equity of 68.81% and a net margin of 2.52%. The firm had revenue of $15.22 billion for the quarter, compared to the consensus estimate of $15.39 billion. During the same period in the previous year, the firm earned $0.74 EPS. SYSCO’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, sell-side analysts expect that SYSCO will post 3.4 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Friday, January 4th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, January 3rd. This represents a $1.56 annualized dividend and a dividend yield of 2.40%. This is a boost from SYSCO’s previous quarterly dividend of $0.36. SYSCO’s dividend payout ratio is currently 45.86%.
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.
Featured Article: Cost of Capital
Receive News & Ratings for SYSCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYSCO and related companies with MarketBeat.com's FREE daily email newsletter.