Somewhat Critical News Coverage Very Likely to Affect Sysco Corporation (SYY) Share Price
News headlines about Sysco Corporation (NYSE:SYY) have trended somewhat negative this week, according to Alpha One Sentiment. The research group, a subsidiary of Accern, identifies positive and negative press coverage by monitoring more than 20 million blog and news sources in real time. Alpha One ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Sysco Corporation earned a news sentiment score of -0.08 on Alpha One’s scale. Alpha One also assigned news headlines about the company an impact score of 83 out of 100, indicating that recent press coverage is very likely to have an effect on the company’s share price in the next few days.
These are some of the news headlines that may have effected Alpha One Sentiment’s scoring:
- US Fed raises interest rates (ismboard.com)
- The Latest Analyst Coverage For Sysco Corporation (SYY), Duke Energy Corporation (DUK) – AllStockNews (allstocknews.com)
- Business Overview – Modest Money (press release) (blog) (modestmoney.com)
- Sysco Corp (SYY): A Future Dividend King Worth Reviewing (simplysafedividends.com)
- Insider Selling: Sysco Corporation (SYY) CEO Sells 30,000 Shares of Stock (americanbankingnews.com)
A number of analysts recently weighed in on SYY shares. Zacks Investment Research lowered shares of Sysco Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, April 11th. Guggenheim reissued a “neutral” rating on shares of Sysco Corporation in a report on Tuesday, April 11th. BMO Capital Markets raised shares of Sysco Corporation from a “market perform” rating to an “outperform” rating and raised their price target for the company from $56.00 to $60.00 in a report on Thursday, May 4th. Jefferies Group LLC reissued a “hold” rating and issued a $51.00 price target (up previously from $50.00) on shares of Sysco Corporation in a report on Monday, May 8th. Finally, Royal Bank Of Canada raised their price target on shares of Sysco Corporation from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $56.30.
Sysco Corporation (NYSE SYY) traded down 2.07% during mid-day trading on Friday, reaching $54.38. 10,213,439 shares of the company’s stock were exchanged. Sysco Corporation has a 12 month low of $47.15 and a 12 month high of $57.07. The firm has a market cap of $29.10 billion, a price-to-earnings ratio of 28.67 and a beta of 0.53. The stock has a 50-day moving average of $54.57 and a 200-day moving average of $53.66.
Sysco Corporation (NYSE:SYY) last released its quarterly earnings results on Monday, May 8th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.51. The firm had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.14 billion. Sysco Corporation had a net margin of 1.93% and a return on equity of 47.28%. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 earnings per share. Analysts anticipate that Sysco Corporation will post $2.47 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 7th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Wednesday, July 5th. Sysco Corporation’s dividend payout ratio (DPR) is presently 69.47%.
In other news, Director Daniel J. Brutto acquired 2,500 shares of the firm’s stock in a transaction dated Friday, March 31st. The stock was bought at an average cost of $51.94 per share, for a total transaction of $129,850.00. Following the completion of the transaction, the director now directly owns 3,968 shares in the company, valued at approximately $206,097.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $51.96, for a total transaction of $1,558,800.00. Following the sale, the chief executive officer now owns 406,725 shares of the company’s stock, valued at $21,133,431. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,600 shares of company stock valued at $7,798,428. 8.81% of the stock is currently owned by corporate insiders.
Sysco Corporation Company Profile
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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