Sysco Co. (NYSE:SYY) Receives $85.77 Average PT from Analysts

Sysco Co. (NYSE:SYY) has received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $86.00.

SYY has been the subject of several recent analyst reports. 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. JPMorgan Chase & Co. boosted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Jefferies Financial Group raised their price objective on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday. Finally, StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Wednesday.

Sysco Stock Performance

NYSE:SYY opened at $78.03 on Wednesday. Sysco has a 12 month low of $69.03 and a 12 month high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The firm has a market capitalization of $38.33 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 2.10 and a beta of 1.19. The business’s fifty day moving average price is $76.55 and its 200 day moving average price is $75.30.

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

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.61%. Sysco’s payout ratio is currently 52.44%.

Insider Activity

In other Sysco news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,279 shares of company stock valued at $2,786,971 over the last quarter. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TruNorth Capital Management LLC purchased a new stake in shares of Sysco during the 2nd quarter worth approximately $25,000. Armstrong Advisory Group Inc. raised its holdings in Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Sysco during the third quarter worth $26,000. Valley Wealth Managers Inc. acquired a new stake in Sysco in the third quarter valued at $31,000. Finally, Focused Wealth Management Inc purchased a new position in shares of Sysco in the third quarter valued at $37,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Company Profile

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.