Sysco Co. (NYSE:SYY) Receives $85.77 Consensus Price Target from Brokerages

Sysco Co. (NYSE:SYY) has been given an average rating of “Moderate Buy” by the thirteen brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $85.77.

Several equities research analysts recently issued reports on the company. Jefferies Financial Group lifted their price objective on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company cut their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th.

Sysco Trading Up 0.2 %

NYSE:SYY opened at $79.95 on Wednesday. Sysco has a 12 month low of $69.03 and a 12 month high of $82.89. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The firm’s 50 day moving average is $76.31 and its 200 day moving average is $75.12. The stock has a market capitalization of $39.27 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 2.11 and a beta of 1.19.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 earnings per share. Sell-side analysts expect that Sysco will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insiders Place Their Bets

In other news, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. This represents a 18.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Greg D. Bertrand sold 21,844 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the completion of the transaction, the executive vice president now directly owns 60,581 shares in the company, valued at approximately $4,846,480. The trade was a 26.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,279 shares of company stock valued at $2,786,971. 0.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Dynamic Advisor Solutions LLC boosted its holdings in Sysco by 11.7% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 5,183 shares of the company’s stock worth $370,000 after buying an additional 541 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of Sysco by 8.4% in the 2nd quarter. V Square Quantitative Management LLC now owns 5,019 shares of the company’s stock worth $358,000 after purchasing an additional 391 shares during the period. ORG Partners LLC raised its stake in shares of Sysco by 3,159.0% in the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after acquiring an additional 6,855 shares during the period. PGGM Investments bought a new stake in shares of Sysco in the 2nd quarter worth about $246,000. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of Sysco by 5.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 65,551 shares of the company’s stock worth $4,680,000 after purchasing an additional 3,256 shares during the period. 83.41% of the stock is currently owned by institutional investors.

About Sysco

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.