A number of research firms have changed their ratings and price targets for SYSCO (NYSE: SYY):

  • 8/18/2018 – SYSCO had its price target raised by analysts at Pivotal Research from $58.00 to $62.00. They now have a “sell” rating on the stock.
  • 8/16/2018 – SYSCO had its price target raised by analysts at Argus from $67.00 to $86.00. They now have a “buy” rating on the stock.
  • 8/14/2018 – SYSCO had its price target raised by analysts at BMO Capital Markets from $74.00 to $81.00. They now have an “outperform” rating on the stock.
  • 8/14/2018 – SYSCO had its price target raised by analysts at Morgan Stanley from $67.00 to $71.00. They now have an “equal weight” rating on the stock.
  • 8/14/2018 – SYSCO had its price target raised by analysts at Loop Capital to $80.00. They now have a “buy” rating on the stock.
  • 8/13/2018 – SYSCO was given a new $68.00 price target on by analysts at Jefferies Financial Group Inc. They now have a “hold” rating on the stock.
  • 8/13/2018 – SYSCO was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 8/10/2018 – SYSCO was downgraded by analysts at Pivotal Research from a “hold” rating to a “sell” rating. They now have a $58.00 price target on the stock.
  • 8/8/2018 – SYSCO was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Sysco surpassed the industry in a year, driven by strength in its U.S. Foodservice unit. Also, the company is gaining from its solid brand portfolio, digital initiatives and focus on buyouts. Further, Sysco is on track with its cost-savings plan and key goals for 2020. Such endeavors helped the company retain its stellar record in second-quarter fiscal 2018, wherein both the top and bottom line grew year over year. However, Sysco’s European business continued to struggle with higher costs related to transformation efforts. Also, the company continues to bear the brunt of higher inbound freight costs, stemming from driver availability challenges in the industry. Moreover, Sysco’s international unit remains challenged with cost inflation in the U.K., driven by higher product costs and currency movements. Nonetheless, management's second half outlook looks encouraging. Estimates have remained stable lately ahead of earnings.”
  • 8/2/2018 – SYSCO was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 7/23/2018 – SYSCO was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Sysco’s European business continues to struggle due to high product inflation and reduced shipping days. This, combined with inflationary trends in U.S Broadline operations and in the U.K., has been marring Sysco’s gross margin performance. Further, the company continues to bear the brunt of higher inbound freight costs, stemming from driver availability challenges in the industry. Also, Sysco’s stock looks quite stretched, which leaves only little room for any upside. Nevertheless, Sysco has been gaining from sturdy U.S. Foodservice Operations. In fact, local case volumes in this segment have been improving year over year for 16 consecutive quarters. Further, the company is on track with its three-year financial goals to drive efficiency and augment offerings. Though these factors have backed a rise in Sysco's shares over the past three months, the trend is likely to reverse, given the aforementioned woes.”
  • 7/18/2018 – SYSCO had its price target raised by analysts at Wells Fargo & Co from $71.00 to $80.00. They now have a “$70.32” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 7/17/2018 – SYSCO had its price target raised by analysts at Morgan Stanley from $61.00 to $67.00. They now have an “equal weight” rating on the stock.
  • 6/26/2018 – SYSCO was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.

SYSCO stock opened at $74.83 on Monday. The stock has a market capitalization of $35.68 billion, a PE ratio of 30.17, a PEG ratio of 1.89 and a beta of 0.56. The company has a debt-to-equity ratio of 3.76, a current ratio of 1.44 and a quick ratio of 0.90. SYSCO Co. has a 12-month low of $50.83 and a 12-month high of $75.33.

SYSCO (NYSE:SYY) last released its earnings results on Monday, August 13th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The firm had revenue of $15.32 billion during the quarter, compared to analyst estimates of $15.30 billion. SYSCO had a net margin of 2.23% and a return on equity of 64.33%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business earned $0.72 EPS. research analysts forecast that SYSCO Co. will post 3.01 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Investors of record on Friday, October 5th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, October 4th. SYSCO’s dividend payout ratio is presently 58.06%.

In related news, insider Paul T. Moskowitz sold 15,333 shares of the firm’s stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $65.00, for a total value of $996,645.00. Following the transaction, the insider now owns 58,328 shares of the company’s stock, valued at approximately $3,791,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Brian R. Todd sold 9,147 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $73.82, for a total transaction of $675,231.54. Following the completion of the transaction, the senior vice president now directly owns 11,747 shares in the company, valued at approximately $867,163.54. The disclosure for this sale can be found here. Insiders sold a total of 3,133,781 shares of company stock worth $207,428,536 in the last ninety days. 9.60% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. MUFG Securities EMEA plc purchased a new position in SYSCO in the 2nd quarter worth about $14,719,000. Raymond James Financial Services Advisors Inc. increased its position in SYSCO by 4.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 181,739 shares of the company’s stock valued at $12,410,000 after purchasing an additional 7,162 shares during the period. Squar Milner Financial Services LLC purchased a new position in SYSCO during the 2nd quarter valued at about $202,000. Rhumbline Advisers increased its position in SYSCO by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 875,111 shares of the company’s stock valued at $59,761,000 after purchasing an additional 5,919 shares during the period. Finally, First National Trust Co increased its position in SYSCO by 3.7% during the 2nd quarter. First National Trust Co now owns 48,390 shares of the company’s stock valued at $3,304,000 after purchasing an additional 1,738 shares during the period. 79.15% of the stock is currently owned by institutional investors.

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.

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