Other analysts have also recently issued reports about the company. Jefferies Group set a $67.00 price target on SYSCO and gave the company a hold rating in a research report on Monday. Zacks Investment Research upgraded SYSCO from a hold rating to a strong-buy rating and set a $71.00 price target on the stock in a research report on Wednesday, January 10th. Loop Capital upped their price target on SYSCO from $68.00 to $72.00 and gave the company a buy rating in a research report on Wednesday, January 31st. Pivotal Research increased their target price on SYSCO from $53.00 to $60.00 and gave the stock a buy rating in a report on Tuesday, December 12th. Finally, Morgan Stanley upgraded SYSCO from an underweight rating to an equal weight rating and set a $64.00 target price on the stock in a report on Tuesday, January 16th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $65.20.
Shares of SYSCO (NYSE:SYY) opened at $57.00 on Monday. SYSCO has a 1 year low of $48.85 and a 1 year high of $64.27. The firm has a market capitalization of $29,700.00, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 2.25 and a beta of 0.56. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.38 and a quick ratio of 0.88.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, January 5th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Thursday, January 4th. This is a boost from SYSCO’s previous quarterly dividend of $0.33. SYSCO’s dividend payout ratio is presently 64.57%.
In other news, insider Wayne Shurts sold 15,600 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $56.66, for a total transaction of $883,896.00. Following the transaction, the insider now owns 56,985 shares of the company’s stock, valued at $3,228,770.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William J. Delaney III sold 150,000 shares of the company’s stock in a transaction on 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 directly owns 526,725 shares in the company, valued at approximately $28,469,486.25. The disclosure for this sale can be found here. Insiders have sold 294,695 shares of company stock worth $16,866,723 in the last 90 days. Company insiders own 9.60% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Keel Point LLC lifted its stake in shares of SYSCO by 0.8% during the second quarter. Keel Point LLC now owns 5,782 shares of the company’s stock valued at $291,000 after acquiring an additional 47 shares during the period. Laurel Wealth Advisors Inc. lifted its stake in shares of SYSCO by 1.1% during the second quarter. Laurel Wealth Advisors Inc. now owns 10,334 shares of the company’s stock valued at $520,000 after acquiring an additional 116 shares during the period. Sandhill Capital Partners LLC lifted its stake in shares of SYSCO by 3.2% during the second quarter. Sandhill Capital Partners LLC now owns 10,834 shares of the company’s stock valued at $545,000 after acquiring an additional 332 shares during the period. National Asset Management Inc. lifted its stake in shares of SYSCO by 2.6% during the second quarter. National Asset Management Inc. now owns 13,781 shares of the company’s stock valued at $695,000 after acquiring an additional 345 shares during the period. Finally, Simmons Bank lifted its stake in shares of SYSCO by 1.5% during the second quarter. Simmons Bank now owns 26,343 shares of the company’s stock valued at $1,326,000 after acquiring an additional 377 shares during the period. 80.09% of the stock is currently owned by institutional investors and hedge funds.
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SYSCO 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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