Sysco Co. (NYSE:SYY) Receives $85.93 Average PT from Analysts

Shares of Sysco Co. (NYSE:SYY) have earned an average rating of “Moderate Buy” from the fifteen analysts that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $85.93.

Several research firms have recently weighed in on SYY. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. raised their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Wells Fargo & Company reduced their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Melius Research raised shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Finally, Jefferies Financial Group increased their price objective on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th.

Insiders Place Their Bets

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,876,080. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. The trade was a 46.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,306 shares of company stock valued at $6,485,050. 0.54% of the stock is currently owned by insiders.

Institutional Trading of Sysco

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Canandaigua National Bank & Trust Co. raised its holdings in Sysco by 15.7% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 10,906 shares of the company’s stock worth $834,000 after purchasing an additional 1,476 shares during the last quarter. Fortem Financial Group LLC lifted its holdings in Sysco by 3.6% in the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock valued at $296,000 after buying an additional 136 shares during the period. Nordea Investment Management AB lifted its holdings in Sysco by 52.3% in the fourth quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock valued at $208,666,000 after buying an additional 933,327 shares during the period. GAMMA Investing LLC boosted its position in Sysco by 21.9% during the fourth quarter. GAMMA Investing LLC now owns 6,993 shares of the company’s stock valued at $535,000 after acquiring an additional 1,255 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Sysco by 149.4% in the 4th quarter. Versant Capital Management Inc now owns 1,247 shares of the company’s stock worth $95,000 after acquiring an additional 747 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Down 0.1 %

Shares of Sysco stock opened at $74.65 on Friday. Sysco has a 52-week low of $69.03 and a 52-week high of $82.89. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The business’s 50 day simple moving average is $77.04 and its 200 day simple moving average is $75.74. The firm has a market cap of $36.67 billion, a PE ratio of 19.19, a P/E/G ratio of 2.10 and a beta of 1.18.

Sysco (NYSE:SYY) last released its earnings results 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 during the quarter, compared to analyst estimates of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. Sysco’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 EPS. On average, analysts predict that Sysco will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.73%. Sysco’s dividend payout ratio is currently 52.44%.

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.