Shares of Sysco Corporation (NYSE:SYY) have earned an average rating of “Hold” from the fifteen analysts that are covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $55.70.

Several brokerages have recently issued reports on SYY. Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a research note on Friday, June 23rd. BMO Capital Markets restated a “buy” rating and set a $60.00 target price on shares of Sysco Corporation in a research note on Tuesday, June 27th. Bank of America Corporation restated a “buy” rating and set a $61.00 target price on shares of Sysco Corporation in a research note on Monday, June 26th. Zacks Investment Research upgraded shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Friday, July 21st. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $57.00 target price on shares of Sysco Corporation in a report on Friday, June 23rd.

In related news, insider Paul T. Moskowitz sold 16,667 shares of Sysco Corporation stock in a transaction on Friday, September 29th. The shares were sold at an average price of $54.12, for a total transaction of $902,018.04. Following the sale, the insider now directly owns 61,936 shares in the company, valued at approximately $3,351,976.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Wayne Shurts sold 7,800 shares of Sysco Corporation stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $50.82, for a total transaction of $396,396.00. Following the sale, the executive vice president now owns 58,776 shares in the company, valued at $2,986,996.32. The disclosure for this sale can be found here. Insiders have sold a total of 2,141,381 shares of company stock valued at $114,829,988 in the last 90 days. Insiders own 8.81% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in SYY. TrimTabs Asset Management LLC grew its holdings in shares of Sysco Corporation by 88.7% during the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock worth $112,000 after purchasing an additional 1,016 shares during the last quarter. Arcadia Investment Management Corp MI increased its position in shares of Sysco Corporation by 10.7% during the second quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock worth $118,000 after purchasing an additional 225 shares in the last quarter. Acrospire Investment Management LLC increased its position in shares of Sysco Corporation by 84.6% during the second quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock worth $121,000 after purchasing an additional 1,100 shares in the last quarter. Manchester Capital Management LLC increased its position in shares of Sysco Corporation by 13.4% during the second quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock worth $128,000 after purchasing an additional 300 shares in the last quarter. Finally, Kistler Tiffany Companies LLC increased its position in shares of Sysco Corporation by 0.4% during the second quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock worth $147,000 after purchasing an additional 12 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Shares of Sysco Corporation (NYSE:SYY) opened at 53.74 on Wednesday. The stock has a 50 day moving average of $52.90 and a 200-day moving average of $52.69. Sysco Corporation has a 12-month low of $47.15 and a 12-month high of $57.07. The company has a market capitalization of $28.37 billion, a PE ratio of 25.84 and a beta of 0.52.

Sysco Corporation (NYSE:SYY) last released its earnings results on Monday, August 14th. The company reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.01. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The firm had revenue of $14.40 billion during the quarter, compared to analysts’ expectations of $14.35 billion. During the same period in the previous year, the firm posted $0.64 EPS. Sysco Corporation’s revenue for the quarter was up 5.5% on a year-over-year basis. Analysts predict that Sysco Corporation will post $2.76 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be issued a dividend of $0.33 per share. The ex-dividend date is Thursday, October 5th. This represents a $1.32 dividend on an annualized basis and a yield of 2.46%. Sysco Corporation’s payout ratio is currently 63.16%.

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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.

Analyst Recommendations for Sysco Corporation (NYSE:SYY)

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