Sysco (NYSE:SYY) Price Target Raised to $95.00

Sysco (NYSE:SYY) had its target price boosted by Jefferies Financial Group from $91.00 to $95.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on SYY. JPMorgan Chase & Co. boosted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company lowered their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $85.93.

Sysco Stock Down 1.2 %

NYSE SYY opened at $77.08 on Monday. Sysco has a 52 week low of $69.03 and a 52 week high of $82.89. The firm has a market capitalization of $37.86 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 2.10 and a beta of 1.19. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The company has a fifty day moving average of $76.60 and a two-hundred day moving average of $75.32.

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

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.65%. Sysco’s dividend payout ratio is presently 52.44%.

Insider Activity at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now owns 12,955 shares in the company, valued at $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This 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 ninety days. 0.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sysco

A number of hedge funds and other institutional investors have recently bought and sold shares of SYY. First Citizens Bank & Trust Co. boosted its position in shares of Sysco by 3.1% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 11,509 shares of the company’s stock worth $822,000 after purchasing an additional 342 shares in the last quarter. Focus Financial Network Inc. grew its stake in shares of Sysco by 56.4% during the second quarter. Focus Financial Network Inc. now owns 5,044 shares of the company’s stock worth $379,000 after acquiring an additional 1,818 shares during the last quarter. Krilogy Financial LLC increased its holdings in shares of Sysco by 23.7% during the second quarter. Krilogy Financial LLC now owns 14,024 shares of the company’s stock valued at $1,001,000 after acquiring an additional 2,689 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Sysco by 6.8% in the 2nd quarter. Fifth Third Bancorp now owns 284,429 shares of the company’s stock valued at $20,305,000 after purchasing an additional 18,171 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of Sysco by 66.9% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 10,642 shares of the company’s stock valued at $760,000 after purchasing an additional 4,265 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

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.