Sysco Corporation (SYY) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Sysco Corporation (NYSE:SYY) have earned a consensus rating of “Hold” from the nineteen research firms that are covering the firm. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $54.35.
SYY has been the subject of several recent research reports. Zacks Investment Research raised shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Thursday, December 1st. Bank of America Corporation raised shares of Sysco Corporation from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Tuesday, November 8th. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a research note on Monday, February 6th. Barclays PLC raised shares of Sysco Corporation from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $48.00 to $53.00 in a research note on Wednesday, November 9th. They noted that the move was a valuation call. Finally, BMO Capital Markets set a $56.00 price objective on shares of Sysco Corporation and gave the company a “hold” rating in a research note on Wednesday, November 9th.
In other Sysco Corporation news, insider Robert S. Charlton sold 33,480 shares of the firm’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $55.67, for a total transaction of $1,863,831.60. Following the sale, the insider now owns 83,390 shares of the company’s stock, valued at $4,642,321.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Russell T. Libby sold 1,865 shares of the firm’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $53.59, for a total transaction of $99,945.35. Following the sale, the insider now directly owns 68,549 shares in the company, valued at approximately $3,673,540.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,562 shares of company stock worth $4,832,512. 8.81% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ boosted its stake in Sysco Corporation by 1.5% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 99,252 shares of the company’s stock worth $4,864,000 after buying an additional 1,500 shares during the last quarter. Advisor Partners LLC boosted its stake in Sysco Corporation by 4.0% in the second quarter. Advisor Partners LLC now owns 7,808 shares of the company’s stock worth $396,000 after buying an additional 299 shares during the last quarter. BTC Capital Management Inc. bought a new stake in Sysco Corporation during the third quarter worth $2,281,000. Gareth Morgan Investments Limited Partnership bought a new stake in Sysco Corporation during the second quarter worth $3,297,000. Finally, Berkshire Asset Management LLC PA boosted its stake in Sysco Corporation by 1.8% in the third quarter. Berkshire Asset Management LLC PA now owns 39,804 shares of the company’s stock worth $1,951,000 after buying an additional 692 shares during the last quarter. 77.50% of the stock is currently owned by institutional investors.
Shares of Sysco Corporation (NYSE:SYY) opened at 52.63 on Friday. The stock has a 50 day moving average of $53.66 and a 200 day moving average of $52.08. Sysco Corporation has a 12-month low of $42.05 and a 12-month high of $57.07. The stock has a market capitalization of $28.43 billion, a P/E ratio of 28.70 and a beta of 0.52.
Sysco Corporation (NYSE:SYY) last posted its quarterly earnings data on Monday, February 6th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.04. Sysco Corporation had a net margin of 1.94% and a return on equity of 40.85%. The business earned $13.50 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the firm posted $0.45 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities research analysts anticipate that Sysco Corporation will post $2.48 EPS for the current fiscal year.
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About Sysco Corporation
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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