Sysco Corporation (SYY) Lowered to “Hold” at BidaskClub
BidaskClub downgraded shares of Sysco Corporation (NYSE:SYY) from a buy rating to a hold rating in a research report report published on Wednesday morning.
Other analysts also recently issued research reports about the company. BMO Capital Markets raised Sysco Corporation from a market perform rating to an outperform rating and lifted their target price for the company from $56.00 to $60.00 in a research report on Thursday, May 4th. Jefferies Group LLC reaffirmed a hold rating and issued a $51.00 target price (up previously from $50.00) on shares of Sysco Corporation in a research report on Monday, May 8th. Zacks Investment Research downgraded Sysco Corporation from a buy rating to a hold rating in a research report on Wednesday, May 10th. Barclays PLC reaffirmed an equal weight rating and issued a $57.00 target price (up previously from $53.00) on shares of Sysco Corporation in a research report on Tuesday, May 9th. Finally, Loop Capital assumed coverage on Sysco Corporation in a research report on Monday, May 15th. They issued a buy rating and a $61.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $56.30.
Shares of Sysco Corporation (NYSE:SYY) traded down 0.45% on Wednesday, reaching $53.11. The company’s stock had a trading volume of 545,370 shares. The company’s 50 day moving average is $54.64 and its 200-day moving average is $53.67. The stock has a market cap of $28.42 billion, a PE ratio of 28.00 and a beta of 0.53. Sysco Corporation has a 1-year low of $47.15 and a 1-year high of $57.07.
Sysco Corporation (NYSE:SYY) last issued its quarterly earnings results on Monday, May 8th. The company reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. The company had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.14 billion. Sysco Corporation had a return on equity of 47.28% and a net margin of 1.93%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 earnings per share. On average, equities analysts predict that Sysco Corporation will post $2.47 earnings per share for the current fiscal year.
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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 issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Wednesday, July 5th. Sysco Corporation’s dividend payout ratio is presently 69.47%.
In other news, Director Daniel J. Brutto acquired 2,500 shares of Sysco Corporation stock in a transaction dated Friday, March 31st. The stock was bought at an average price of $51.94 per share, for a total transaction of $129,850.00. Following the completion of the acquisition, the director now directly owns 3,968 shares in the company, valued at approximately $206,097.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $51.96, for a total value of $1,558,800.00. Following the sale, the chief executive officer now owns 406,725 shares of the company’s stock, valued at approximately $21,133,431. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 144,600 shares of company stock valued at $7,798,428. Corporate insiders own 8.81% of the company’s stock.
Several large investors have recently modified their holdings of SYY. North Star Investment Management Corp. boosted its stake in shares of Sysco Corporation by 81.2% in the first quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock valued at $101,000 after buying an additional 871 shares during the period. TrimTabs Asset Management LLC boosted its stake in shares of Sysco Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock valued at $112,000 after buying an additional 1,016 shares during the period. Howe & Rusling Inc. boosted its stake in shares of Sysco Corporation by 81.1% in the first quarter. Howe & Rusling Inc. now owns 2,595 shares of the company’s stock valued at $135,000 after buying an additional 1,162 shares during the period. Kistler Tiffany Companies LLC boosted its stake in shares of Sysco Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 2,903 shares of the company’s stock valued at $151,000 after buying an additional 13 shares during the period. Finally, Blue Chip Partners Inc. boosted its stake in shares of Sysco Corporation by 0.6% in the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock valued at $153,000 after buying an additional 19 shares during the period. Institutional investors and hedge funds own 78.93% of the company’s stock.
About Sysco Corporation
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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