SYSCO (NYSE:SYY) had its target price raised by Credit Suisse Group from $76.00 to $79.00 in a research note issued to investors on Tuesday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the stock.
SYY has been the subject of several other research reports. JPMorgan Chase & Co. lowered their price target on SYSCO from $77.00 to $75.00 and set an overweight rating for the company in a research report on Tuesday, June 4th. Zacks Investment Research lowered SYSCO from a buy rating to a hold rating and set a $75.00 price target for the company. in a research report on Tuesday, June 11th. Morgan Stanley lifted their price target on SYSCO from $69.00 to $72.00 and gave the stock an equal weight rating in a research report on Tuesday, May 7th. Loop Capital lifted their price target on SYSCO to $80.00 and gave the stock a buy rating in a research report on Wednesday, May 8th. Finally, Consumer Edge assumed coverage on SYSCO in a research report on Wednesday, July 17th. They issued an underweight rating and a $71.75 price target for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $73.60.
Shares of SYY stock opened at $72.96 on Tuesday. SYSCO has a 12 month low of $59.44 and a 12 month high of $75.98. The stock has a market cap of $37.50 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 1.96 and a beta of 0.52. The company has a current ratio of 1.33, a quick ratio of 0.79 and a debt-to-equity ratio of 3.25. The company’s fifty day moving average price is $70.97 and its 200-day moving average price is $69.67.
SYSCO (NYSE:SYY) last announced its earnings results on Monday, August 12th. The company reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.03. The firm had revenue of $15.47 billion for the quarter, compared to analysts’ expectations of $15.65 billion. SYSCO had a net margin of 2.79% and a return on equity of 76.80%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.94 EPS. On average, sell-side analysts forecast that SYSCO will post 3.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Thursday, October 3rd. SYSCO’s dividend payout ratio (DPR) is 43.94%.
A number of large investors have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. raised its position in SYSCO by 4.3% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 1,057,731 shares of the company’s stock worth $74,802,000 after buying an additional 43,471 shares during the last quarter. Mutual Advisors LLC bought a new stake in shares of SYSCO during the 2nd quarter valued at about $204,000. Smith Moore & CO. grew its stake in shares of SYSCO by 2.9% during the 2nd quarter. Smith Moore & CO. now owns 13,750 shares of the company’s stock valued at $972,000 after purchasing an additional 387 shares during the period. California Public Employees Retirement System grew its stake in shares of SYSCO by 23.8% during the 2nd quarter. California Public Employees Retirement System now owns 3,614,248 shares of the company’s stock valued at $255,600,000 after purchasing an additional 695,556 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of SYSCO by 5.0% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 135,837 shares of the company’s stock valued at $9,606,000 after purchasing an additional 6,471 shares during the period. 78.30% of the stock is owned by institutional investors and hedge funds.
SYSCO Company Profile
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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