Shares of Sysco Corporation (NYSE:SYY) have received an average recommendation of “Hold” from the seventeen analysts that are presently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $56.02.

SYY has been the subject of several analyst reports. BMO Capital Markets raised Sysco Corporation from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $56.00 to $60.00 in a report on Thursday, May 4th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $51.00 price objective (up from $50.00) on shares of Sysco Corporation in a report on Monday, May 8th. Royal Bank Of Canada lifted their price objective on Sysco Corporation from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Tuesday, May 9th. Zacks Investment Research raised Sysco Corporation from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Tuesday, May 9th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $57.00 price objective (up from $53.00) on shares of Sysco Corporation in a report on Tuesday, May 9th.

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Shares of Sysco Corporation (NYSE SYY) traded up 0.98% during mid-day trading on Tuesday, reaching $51.59. The company’s stock had a trading volume of 2,946,899 shares. The firm has a market cap of $27.61 billion, a price-to-earnings ratio of 27.20 and a beta of 0.52. Sysco Corporation has a 52-week low of $47.15 and a 52-week high of $57.07. The firm has a 50 day moving average price of $51.01 and a 200 day moving average price of $52.58.

Sysco Corporation (NYSE:SYY) last announced its quarterly earnings data on Monday, August 14th. The company reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The firm had revenue of $14.40 billion during the quarter, compared to analysts’ expectations of $14.35 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 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 EPS. On average, equities analysts predict that Sysco Corporation will post $2.76 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.32 dividend on an annualized basis and a yield of 2.56%. Sysco Corporation’s dividend payout ratio is currently 69.47%.

In related news, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $55.55, for a total transaction of $1,666,500.00. Following the sale, the chief executive officer now owns 406,725 shares in the company, valued at approximately $22,593,573.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $55.30, for a total value of $431,340.00. Following the sale, the executive vice president now owns 58,776 shares in the company, valued at approximately $3,250,312.80. The disclosure for this sale can be found here. Insiders have sold a total of 152,400 shares of company stock worth $8,121,300 in the last 90 days. 8.81% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the company. Kistler Tiffany Companies LLC raised its stake in shares of Sysco Corporation by 0.4% in the second quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock worth $147,000 after buying an additional 12 shares in the last quarter. Buckingham Asset Management LLC raised its stake in shares of Sysco Corporation by 0.3% in the first quarter. Buckingham Asset Management LLC now owns 5,904 shares of the company’s stock worth $307,000 after buying an additional 16 shares in the last quarter. Schnieders Capital Management LLC raised its stake in shares of Sysco Corporation by 0.4% in the second quarter. Schnieders Capital Management LLC now owns 4,070 shares of the company’s stock worth $205,000 after buying an additional 18 shares in the last quarter. Blue Chip Partners Inc. raised its stake in shares of Sysco Corporation by 0.6% in the second quarter. Blue Chip Partners Inc. now owns 2,967 shares of the company’s stock worth $149,000 after buying an additional 18 shares in the last quarter. Finally, Northwest Quadrant Wealth Management LLC raised its stake in shares of Sysco Corporation by 0.6% in the second quarter. Northwest Quadrant Wealth Management LLC now owns 5,169 shares of the company’s stock worth $269,000 after buying an additional 29 shares in the last quarter. Institutional investors and hedge funds own 78.49% of the company’s stock.

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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