Sysco Corporation (SYY) Given Outperform Rating at BMO Capital Markets

Sysco Corporation (NYSE:SYY)‘s stock had its “outperform” rating reiterated by investment analysts at BMO Capital Markets in a report issued on Tuesday.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research raised Sysco Corporation from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Tuesday, July 4th. Bank of America Corporation reaffirmed a “buy” rating and issued a $61.00 target price on shares of Sysco Corporation in a report on Monday, June 26th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a report on Friday, June 23rd. Loop Capital started coverage on Sysco Corporation in a report on Monday, May 15th. They issued a “buy” rating and a $61.00 target price on the stock. Finally, Pivotal Research set a $53.00 target price on Sysco Corporation and gave the stock a “hold” rating in a report on Sunday, August 13th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $55.71.

Sysco Corporation (NYSE SYY) opened at 53.29 on Tuesday. Sysco Corporation has a 12-month low of $47.15 and a 12-month high of $57.07. The stock has a 50 day moving average price of $52.06 and a 200-day moving average price of $52.54. The stock has a market capitalization of $28.25 billion, a PE ratio of 25.62 and a beta of 0.52.

Sysco Corporation (NYSE:SYY) last issued its earnings results on Monday, August 14th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.01. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The firm had revenue of $14.40 billion for the quarter, compared to analysts’ expectations of $14.35 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. On average, equities analysts anticipate that Sysco Corporation will post $2.76 earnings per share for the current fiscal year.

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In other Sysco Corporation news, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $50.82, for a total transaction of $396,396.00. Following the completion of the transaction, the executive vice president now owns 58,776 shares in the company, valued at $2,986,996.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $49.92, for a total value of $1,497,600.00. Following the transaction, the chief executive officer now owns 406,725 shares of the company’s stock, valued at approximately $20,303,712. The disclosure for this sale can be found here. Insiders have sold 136,800 shares of company stock valued at $7,102,680 in the last 90 days. Company insiders own 8.81% of the company’s stock.

Large investors have recently made changes to their positions in the business. North Star Investment Management Corp. boosted its position in shares of Sysco Corporation by 81.2% during the first quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock valued at $101,000 after buying an additional 871 shares during the period. TrimTabs Asset Management LLC boosted its position in shares of Sysco Corporation by 88.7% during the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock valued at $112,000 after buying an additional 1,016 shares during the period. Arcadia Investment Management Corp MI boosted its position in shares of Sysco Corporation by 10.7% during the second quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock valued at $118,000 after buying an additional 225 shares during the period. Acrospire Investment Management LLC boosted its position in shares of Sysco Corporation by 84.6% during the second quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock valued at $121,000 after buying an additional 1,100 shares during the period. Finally, Manchester Capital Management LLC boosted its position in shares of Sysco Corporation by 13.4% during the second quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock valued at $128,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 79.97% of the company’s stock.

Sysco Corporation Company Profile

Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.

Analyst Recommendations for Sysco Corporation (NYSE:SYY)

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