Shares of Sysco Corporation (NYSE:SYY) have earned a consensus recommendation of “Hold” from the fifteen ratings firms that are currently covering the firm. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $54.52.
A number of research firms have issued reports on SYY. Zacks Investment Research cut Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday. Bank of America Corporation set a $54.00 target price on Sysco Corporation and gave the company a “hold” rating in a research report on Saturday, September 17th. Pivotal Research boosted their price target on Sysco Corporation from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Tuesday, November 8th. Barclays PLC upgraded Sysco Corporation from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $48.00 to $53.00 in a report on Wednesday, November 9th. They noted that the move was a valuation call. Finally, Goldman Sachs Group, Inc. (The) upgraded Sysco Corporation from a “sell” rating to a “neutral” rating and set a $53.00 price target on the stock in a report on Friday, December 9th.
Shares of Sysco Corporation (NYSE:SYY) traded down 0.31% during mid-day trading on Wednesday, hitting $55.16. 1,498,321 shares of the company were exchanged. The firm has a 50 day moving average of $55.02 and a 200 day moving average of $51.76. The company has a market capitalization of $30.17 billion, a price-to-earnings ratio of 30.51 and a beta of 0.54. Sysco Corporation has a 12-month low of $38.84 and a 12-month high of $57.07.
Sysco Corporation (NYSE:SYY) last released its earnings results on Monday, November 7th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.09. Sysco Corporation had a return on equity of 35.49% and a net margin of 1.99%. The firm had revenue of $14 billion for the quarter, compared to analysts’ expectations of $13.88 billion. During the same quarter in the previous year, the business posted $0.52 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities research analysts forecast that Sysco Corporation will post $2.45 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 27th. Investors of record on Friday, January 6th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, January 4th. This is a boost from Sysco Corporation’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 2.39%. Sysco Corporation’s dividend payout ratio is presently 72.53%.
In other Sysco Corporation news, SVP Greg D. Bertrand sold 16,500 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $50.79, for a total value of $838,035.00. Following the transaction, the senior vice president now directly owns 57,491 shares of the company’s stock, valued at $2,919,967.89. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William J. Delaney III sold 20,114 shares of the business’s stock in a transaction that occurred on Friday, October 14th. The shares were sold at an average price of $49.02, for a total value of $985,988.28. Following the completion of the transaction, the chief executive officer now directly owns 422,507 shares in the company, valued at $20,711,293.14. The disclosure for this sale can be found here. 8.81% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of SYY. Kistler Tiffany Companies LLC raised its position in shares of Sysco Corporation by 0.4% in the third quarter. Kistler Tiffany Companies LLC now owns 2,878 shares of the company’s stock valued at $141,000 after buying an additional 12 shares during the period. Parkside Financial Bank & Trust raised its position in shares of Sysco Corporation by 0.6% in the third quarter. Parkside Financial Bank & Trust now owns 2,324 shares of the company’s stock valued at $114,000 after buying an additional 13 shares during the period. Blue Chip Partners Inc. raised its position in shares of Sysco Corporation by 0.7% in the second quarter. Blue Chip Partners Inc. now owns 2,894 shares of the company’s stock valued at $147,000 after buying an additional 19 shares during the period. Segment Wealth Management LLC raised its position in shares of Sysco Corporation by 0.5% in the third quarter. Segment Wealth Management LLC now owns 5,047 shares of the company’s stock valued at $247,000 after buying an additional 23 shares during the period. Finally, Oakworth Capital Inc. raised its position in shares of Sysco Corporation by 0.9% in the third quarter. Oakworth Capital Inc. now owns 3,888 shares of the company’s stock valued at $191,000 after buying an additional 34 shares during the period. 77.10% of the stock is currently owned by hedge funds and other institutional investors.
Sysco Corporation Company Profile
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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