Sysco Co. (NYSE:SYY) Receives $85.77 Consensus PT from Analysts

Shares of Sysco Co. (NYSE:SYY) have earned a consensus rating of “Moderate Buy” from the thirteen research firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $85.77.

Several analysts have commented on the stock. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. increased their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Wells Fargo & Company cut their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Tuesday.

Insider Transactions at Sysco

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. This trade represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,279 shares of company stock worth $2,786,971. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sysco

A number of hedge funds and other institutional investors have recently modified their holdings of SYY. State Street Corp lifted its stake in Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after buying an additional 2,721,449 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Sysco by 26.1% during the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after buying an additional 1,782,180 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in shares of Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after buying an additional 672,940 shares during the last quarter. Primecap Management Co. CA increased its position in Sysco by 9.7% in the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after acquiring an additional 422,954 shares during the period. Finally, Montrusco Bolton Investments Inc. lifted its holdings in shares of Sysco by 8.5% during the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock worth $366,789,000 after purchasing an additional 375,409 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Trading Up 0.2 %

Shares of NYSE:SYY opened at $79.95 on Wednesday. Sysco has a 12-month low of $69.03 and a 12-month high of $82.89. The company has a market capitalization of $39.27 billion, a PE ratio of 20.49, a P/E/G ratio of 2.11 and a beta of 1.19. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The business’s fifty day simple moving average is $76.31 and its 200-day simple moving average is $75.12.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. During the same quarter in the prior year, the company posted $1.07 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities research analysts predict that Sysco will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio is presently 52.44%.

About Sysco

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.