SYSCO’s (SYY) Sector Perform Rating Reaffirmed at Royal Bank of Canada

SYSCO (NYSE:SYY)‘s stock had its “sector perform” rating reaffirmed by stock analysts at Royal Bank of Canada in a report issued on Tuesday. They presently have a $61.00 price target on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 4.40% from the stock’s current price.

Other analysts also recently issued reports about the company. Jefferies Group set a $67.00 target price on SYSCO and gave the stock a “hold” rating in a research note on Monday. Zacks Investment Research upgraded SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 price target for the company in a report on Wednesday, January 10th. Loop Capital increased their price target on SYSCO from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. BMO Capital Markets set a $74.00 price target on SYSCO and gave the stock a “buy” rating in a report on Monday. Finally, Pivotal Research increased their price target on SYSCO from $53.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $64.27.

Shares of SYSCO (NYSE:SYY) opened at $58.43 on Tuesday. SYSCO has a 52 week low of $48.85 and a 52 week high of $64.27. The stock has a market capitalization of $30,450.00, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 2.21 and a beta of 0.56. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 3.77.

SYSCO (NYSE:SYY) last issued its earnings results on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. SYSCO had a return on equity of 60.71% and a net margin of 2.10%. The business had revenue of $14.41 billion during the quarter, compared to the consensus estimate of $14.15 billion. During the same period last year, the company earned $0.58 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. sell-side analysts anticipate that SYSCO will post 2.88 earnings per share for the current fiscal year.

In related news, SVP William W. Goetz sold 11,323 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $62.00, for a total transaction of $702,026.00. Following the completion of the transaction, the senior vice president now directly owns 35,825 shares in the company, valued at approximately $2,221,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William J. Delaney III sold 150,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $54.05, for a total value of $8,107,500.00. Following the transaction, the chief executive officer now owns 526,725 shares of the company’s stock, valued at $28,469,486.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 294,695 shares of company stock valued at $16,866,723. Company insiders own 9.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. First Personal Financial Services boosted its holdings in SYSCO by 293.2% during the 3rd quarter. First Personal Financial Services now owns 1,962 shares of the company’s stock valued at $106,000 after acquiring an additional 1,463 shares during the period. Advisors Asset Management Inc. boosted its holdings in SYSCO by 465.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,783 shares of the company’s stock valued at $150,000 after acquiring an additional 2,291 shares during the period. Thompson Siegel & Walmsley LLC boosted its holdings in SYSCO by 51.9% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,926 shares of the company’s stock valued at $158,000 after acquiring an additional 1,000 shares during the period. Sun Life Financial INC boosted its holdings in SYSCO by 25,571.4% during the 2nd quarter. Sun Life Financial INC now owns 3,594 shares of the company’s stock valued at $181,000 after acquiring an additional 3,580 shares during the period. Finally, Mckinley Capital Management LLC Delaware purchased a new position in SYSCO during the 2nd quarter valued at about $193,000. Institutional investors own 80.09% of the company’s stock.

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About SYSCO

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.

Analyst Recommendations for SYSCO (NYSE:SYY)

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