BMO Capital Markets Analysts Give Sysco (SYY) a $66.00 Price Target
SYY has been the subject of a number of other reports. Royal Bank Of Canada set a $50.00 target price on Sysco and gave the stock a hold rating in a report on Friday, August 11th. Zacks Investment Research cut Sysco from a buy rating to a hold rating in a report on Thursday, November 9th. Pivotal Research reissued a hold rating and issued a $53.00 target price on shares of Sysco in a report on Sunday, November 5th. Finally, Wells Fargo & Company reissued a buy rating on shares of Sysco in a report on Monday, August 14th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Sysco has a consensus rating of Hold and a consensus price target of $57.91.
Sysco (SYY) opened at $62.64 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 3.77. The company has a market capitalization of $32,638.96, a P/E ratio of 24.57, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54. Sysco has a twelve month low of $48.85 and a twelve month high of $62.79.
Sysco (NYSE:SYY) last issued its earnings results on Monday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.02. Sysco had a return on equity of 58.47% and a net margin of 2.12%. The business had revenue of $14.65 billion during the quarter, compared to analysts’ expectations of $14.43 billion. During the same period in the prior year, the firm posted $0.67 EPS. Sysco’s quarterly revenue was up 4.9% compared to the same quarter last year. equities research analysts expect that Sysco will post 2.78 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.30%. This is a boost from Sysco’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, January 4th. Sysco’s dividend payout ratio (DPR) is currently 60.00%.
In related news, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $53.16, for a total transaction of $1,594,800.00. Following the completion of the sale, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at approximately $21,621,501. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Wayne Shurts sold 15,600 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $53.27, for a total value of $831,012.00. Following the sale, the insider now directly owns 58,776 shares of the company’s stock, valued at $3,130,997.52. The disclosure for this sale can be found here. Insiders have sold a total of 2,237,981 shares of company stock valued at $120,454,412 over the last ninety days. Insiders own 9.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Sysco by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 38,501,911 shares of the company’s stock valued at $1,937,801,000 after buying an additional 590,968 shares during the last quarter. BlackRock Inc. boosted its position in Sysco by 0.3% in the 2nd quarter. BlackRock Inc. now owns 32,291,082 shares of the company’s stock valued at $1,625,211,000 after buying an additional 83,464 shares during the last quarter. State Street Corp boosted its position in Sysco by 1.0% in the 2nd quarter. State Street Corp now owns 26,707,981 shares of the company’s stock valued at $1,344,209,000 after buying an additional 272,303 shares during the last quarter. Capital World Investors boosted its position in Sysco by 11.7% in the 2nd quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock valued at $692,893,000 after buying an additional 1,445,000 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Sysco by 2.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 10,451,813 shares of the company’s stock valued at $563,890,000 after buying an additional 208,815 shares during the last quarter. Hedge funds and other institutional investors own 80.22% of the company’s stock.
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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