Jefferies Group set a $67.00 target price on SYSCO (NYSE:SYY) in a research note released on Monday. The firm currently has a hold rating on the stock. Jefferies Group also issued estimates for SYSCO’s Q3 2018 earnings at $0.70 EPS, Q4 2018 earnings at $0.99 EPS, FY2018 earnings at $3.08 EPS, Q1 2019 earnings at $0.98 EPS, Q2 2019 earnings at $0.85 EPS, Q3 2019 earnings at $0.79 EPS, Q4 2019 earnings at $1.10 EPS, FY2019 earnings at $3.72 EPS, FY2020 earnings at $4.19 EPS, FY2021 earnings at $4.50 EPS and FY2022 earnings at $4.77 EPS.
Several other equities research analysts have also recently commented on SYY. Loop Capital boosted their price target on shares of SYSCO from $68.00 to $72.00 and gave the stock a buy rating in a research report on Wednesday, January 31st. Morgan Stanley upgraded shares of SYSCO from an underweight rating to an equal weight rating and set a $64.00 price target on the stock in a research report on Tuesday, January 16th. Zacks Investment Research upgraded shares of SYSCO from a hold rating to a strong-buy rating and set a $71.00 price target on the stock in a research report on Wednesday, January 10th. BMO Capital Markets set a $66.00 price target on shares of SYSCO and gave the stock a buy rating in a research report on Friday, December 8th. Finally, Pivotal Research boosted their price target on shares of SYSCO from $53.00 to $60.00 and gave the stock a buy rating in a research report on Tuesday, December 12th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. SYSCO currently has a consensus rating of Buy and an average price target of $65.20.
Shares of SYSCO (NYSE:SYY) opened at $57.00 on Monday. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.38 and a quick ratio of 0.88. SYSCO has a 1 year low of $48.85 and a 1 year high of $64.27. The company has a market cap of $29,700.00, a PE ratio of 25.56, a price-to-earnings-growth ratio of 2.25 and a beta of 0.56.
The business also recently declared a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 5th were paid a $0.36 dividend. The ex-dividend date was Thursday, January 4th. This represents a $1.44 dividend on an annualized basis and a yield of 2.53%. This is a boost from SYSCO’s previous quarterly dividend of $0.33. SYSCO’s dividend payout ratio (DPR) is currently 64.57%.
In related news, CEO William J. Delaney III sold 150,000 shares of SYSCO stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $54.05, for a total value of $8,107,500.00. Following the transaction, the chief executive officer now owns 526,725 shares of the company’s stock, valued at approximately $28,469,486.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Greg D. Bertrand sold 81,038 shares of SYSCO stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $60.76, for a total value of $4,923,868.88. Following the completion of the transaction, the senior vice president now directly owns 69,721 shares in the company, valued at approximately $4,236,247.96. The disclosure for this sale can be found here. Insiders sold a total of 294,695 shares of company stock worth $16,866,723 in the last three months. 9.60% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. First Personal Financial Services increased its stake in SYSCO by 293.2% in the 3rd quarter. First Personal Financial Services now owns 1,962 shares of the company’s stock worth $106,000 after purchasing an additional 1,463 shares in the last quarter. Advisors Asset Management Inc. grew its stake in SYSCO by 465.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,783 shares of the company’s stock valued at $150,000 after acquiring an additional 2,291 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its stake in SYSCO by 51.9% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,926 shares of the company’s stock valued at $158,000 after acquiring an additional 1,000 shares in the last quarter. Scott & Selber Inc. purchased a new position in SYSCO during the 4th quarter valued at about $200,000. Finally, Sowell Financial Services LLC purchased a new position in SYSCO during the 4th quarter valued at about $206,000. 80.09% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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