BMO Capital Markets set a $66.00 target price on Sysco (NYSE:SYY) in a report published on Friday morning. The brokerage currently has a buy rating on the stock.

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.

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About Sysco

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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