A number of other equities research analysts have also recently commented on SYY. Credit Suisse Group cut 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, November 6th. BMO Capital Markets lowered their price objective on shares of SYSCO from $81.00 to $79.00 and set a buy rating on the stock in a research report on Tuesday, November 6th. Morgan Stanley lowered their price objective on shares of SYSCO from $71.00 to $69.00 and set a hold rating on the stock in a research report on Tuesday, November 6th. ValuEngine upgraded shares of SYSCO from a hold rating to a buy rating in a research report on Monday, November 12th. Finally, Zacks Investment Research downgraded shares of SYSCO from a hold rating to a sell rating in a research report on Tuesday, January 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. SYSCO has an average rating of Hold and an average price target of $72.92.
SYY stock traded up $0.03 during trading on Tuesday, reaching $67.58. The company had a trading volume of 2,061,584 shares, compared to its average volume of 4,184,675. SYSCO has a 52 week low of $58.12 and a 52 week high of $75.98. The company has a market cap of $34.57 billion, a P/E ratio of 21.52, a PEG ratio of 1.92 and a beta of 0.53. The company has a debt-to-equity ratio of 3.70, a current ratio of 1.25 and a quick ratio of 0.76.
SYSCO (NYSE:SYY) last released its quarterly earnings results on Monday, February 4th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.03. SYSCO had a net margin of 2.48% and a return on equity of 71.45%. The company had revenue of $14.80 billion during the quarter, compared to the consensus estimate of $14.75 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. SYSCO’s revenue was up 2.8% 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.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $1.56 annualized dividend and a dividend yield of 2.31%. SYSCO’s dividend payout ratio is presently 49.68%.
In other news, EVP Robert S. Charlton sold 22,321 shares of the business’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $65.83, for a total transaction of $1,469,391.43. Following the completion of the sale, the executive vice president now owns 61,460 shares in the company, valued at approximately $4,045,911.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Russell T. Libby sold 60,156 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $63.40, for a total value of $3,813,890.40. Following the sale, the insider now directly owns 62,597 shares in the company, valued at $3,968,649.80. The disclosure for this sale can be found here. 7.88% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Manning & Napier Group LLC raised its stake in SYSCO by 10.8% in the fourth quarter. Manning & Napier Group LLC now owns 144,301 shares of the company’s stock valued at $9,041,000 after buying an additional 14,022 shares during the period. Paloma Partners Management Co acquired a new position in shares of SYSCO in the third quarter valued at approximately $1,103,000. Pensionfund Sabic acquired a new position in shares of SYSCO in the fourth quarter valued at approximately $1,548,000. Paradigm Asset Management Co. LLC grew its position in shares of SYSCO by 4.4% in the third quarter. Paradigm Asset Management Co. LLC now owns 29,420 shares of the company’s stock valued at $2,155,000 after purchasing an additional 1,250 shares during the last quarter. Finally, Wetherby Asset Management Inc. grew its position in shares of SYSCO by 5.1% in the fourth quarter. Wetherby Asset Management Inc. now owns 14,893 shares of the company’s stock valued at $933,000 after purchasing an additional 717 shares during the last quarter. 80.23% of the stock is currently owned by institutional investors and hedge funds.
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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