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

Sysco Co. (NYSE:SYY) has been given an average recommendation of “Moderate Buy” by the thirteen analysts that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $86.00.

A number of equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Wells Fargo & Company lowered their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, Jefferies Financial Group increased their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday.

Sysco Price Performance

Shares of NYSE SYY opened at $78.03 on Wednesday. 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 firm has a market cap of $38.33 billion, a PE ratio of 20.06, a PEG ratio of 2.10 and a beta of 1.19. Sysco has a one year low of $69.03 and a one year high of $82.89. The firm has a fifty day moving average of $76.55 and a 200 day moving average of $75.30.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. During the same quarter last year, the company earned $1.07 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, research analysts predict that Sysco will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is 52.44%.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 21,844 shares of the firm’s stock in a transaction dated 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 $4,846,480. This trade represents a 26.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the sale, the senior vice president now owns 48,451 shares in the company, valued at $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. In the last quarter, insiders sold 35,279 shares of company stock valued at $2,786,971. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. TruNorth Capital Management LLC purchased a new position in Sysco in the 2nd quarter valued at approximately $25,000. Armstrong Advisory Group Inc. boosted its holdings in Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares during the period. Ashton Thomas Securities LLC acquired a new position in Sysco during the 3rd quarter worth $26,000. Valley Wealth Managers Inc. purchased a new stake in Sysco during the 3rd quarter worth about $31,000. Finally, Focused Wealth Management Inc acquired a new stake in Sysco in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

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.