Sysco Co. (NYSE:SYY) has received an average recommendation of "Hold" from the eleven analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $85.38.
Several analysts recently weighed in on SYY shares. Morgan Stanley raised their price objective on Sysco from $88.00 to $89.00 and gave the company an "equal weight" rating in a research note on Monday, May 24th. Wells Fargo & Company lifted their price objective on Sysco from $89.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 27th. Barclays lifted their target price on Sysco from $80.00 to $83.00 and gave the stock an "equal weight" rating in a report on Friday, May 21st. JPMorgan Chase & Co. boosted their price objective on Sysco from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Monday, April 12th. They noted that the move was a valuation call. Finally, Piper Sandler boosted their price objective on Sysco from $82.00 to $86.00 and gave the company an "overweight" rating in a report on Thursday, March 18th.
NYSE SYY opened at $79.40 on Tuesday. Sysco has a 52-week low of $50.03 and a 52-week high of $86.73. The company has a current ratio of 1.65, a quick ratio of 1.19 and a debt-to-equity ratio of 8.41. The business's 50 day simple moving average is $81.75. The company has a market cap of $40.62 billion, a PE ratio of -158.80, a price-to-earnings-growth ratio of 5.53 and a beta of 1.44.
Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, May 4th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.02. The business had revenue of $11.82 billion for the quarter, compared to analysts' expectations of $12.02 billion. Sysco had a positive return on equity of 17.14% and a negative net margin of 0.56%. The firm's revenue for the quarter was down 13.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 EPS. Analysts anticipate that Sysco will post 1.31 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 23rd. Shareholders of record on Friday, July 2nd will be issued a $0.47 dividend. This is a positive change from Sysco's previous quarterly dividend of $0.45. The ex-dividend date is Thursday, July 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.37%. Sysco's dividend payout ratio (DPR) is presently 89.55%.
In other news, Director Joshua D. Frank sold 357,884 shares of Sysco stock in a transaction dated Thursday, May 27th. The stock was sold at an average price of $81.08, for a total value of $29,017,234.72. Following the sale, the director now directly owns 4,840 shares of the company's stock, valued at $392,427.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joshua D. Frank sold 650,000 shares of Sysco stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $79.56, for a total value of $51,714,000.00. Following the completion of the sale, the director now directly owns 4,840 shares in the company, valued at $385,070.40. The disclosure for this sale can be found here. In the last three months, insiders sold 1,167,884 shares of company stock valued at $93,808,035. Corporate insiders own 5.17% of the company's stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Core Wealth Advisors Inc. purchased a new stake in shares of Sysco in the fourth quarter valued at approximately $26,000. Piscataqua Savings Bank purchased a new stake in shares of Sysco during the 1st quarter worth about $26,000. tru Independence LLC purchased a new position in Sysco in the 4th quarter valued at about $31,000. SOA Wealth Advisors LLC. purchased a new position in Sysco in the 4th quarter valued at about $31,000. Finally, Bogart Wealth LLC acquired a new stake in shares of Sysco during the 1st quarter worth approximately $31,000. 79.37% of the stock is currently owned by institutional investors.
Sysco Company Profile
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other.
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