SYSCO Co. (SYY) Receives $73.75 Average PT from Analysts
SYSCO Co. (NYSE:SYY) has been assigned a consensus recommendation of “Hold” from the fourteen brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $73.75.
Several brokerages recently issued reports on SYY. Zacks Investment Research upgraded SYSCO from a “sell” rating to a “hold” rating in a research report on Thursday, November 22nd. ValuEngine cut SYSCO from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. Jefferies Financial Group set a $68.00 price target on SYSCO and gave the company a “hold” rating in a research report on Monday, August 13th. Morgan Stanley lifted their price objective on SYSCO from $67.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday, August 14th. Finally, Citigroup lowered their price objective on SYSCO from $78.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday, November 13th.
In other news, Director Richard G. Tilghman sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $73.71, for a total transaction of $368,550.00. Following the sale, the director now owns 61,137 shares of the company’s stock, valued at approximately $4,506,408.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joshua D. Frank sold 1,013,666 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $75.09, for a total value of $76,116,179.94. Following the sale, the director now directly owns 4,005 shares in the company, valued at approximately $300,735.45. The disclosure for this sale can be found here. Insiders sold a total of 6,884,031 shares of company stock worth $484,008,301 in the last ninety days. 7.88% of the stock is owned by corporate insiders.
SYY stock traded down $0.32 during trading on Monday, hitting $65.81. The company had a trading volume of 184,081 shares, compared to its average volume of 3,438,565. The stock has a market capitalization of $34.37 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 1.87 and a beta of 0.54. SYSCO has a 1-year low of $56.01 and a 1-year high of $75.98. The company has a quick ratio of 0.80, a current ratio of 1.30 and a debt-to-equity ratio of 3.00.
SYSCO (NYSE:SYY) last issued its quarterly earnings results on Monday, November 5th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.01). The company had revenue of $15.22 billion during the quarter, compared to analyst estimates of $15.39 billion. SYSCO had a net margin of 2.52% and a return on equity of 68.81%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. Analysts expect that SYSCO will post 3.4 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Friday, January 4th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, January 3rd. This is a positive change from SYSCO’s previous quarterly dividend of $0.36. SYSCO’s payout ratio is currently 45.86%.
SYSCO Company Profile
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. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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