BMO Capital Markets Reiterates $74.00 Price Target for SYSCO (SYY)

BMO Capital Markets set a $74.00 target price on SYSCO (NYSE:SYY) in a report issued on Monday morning. The firm currently has a buy rating on the stock.

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.

SYSCO (NYSE:SYY) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. The firm had revenue of $14.41 billion for the quarter, compared to analysts’ expectations of $14.15 billion. During the same period in the prior year, the business posted $0.58 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. equities research analysts anticipate that SYSCO will post 2.95 EPS for the current fiscal year.

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.

Analyst Recommendations for SYSCO (NYSE:SYY)

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