Sysco Corp. (SYY) Coverage Initiated by Analysts at Barclays PLC
Analysts at Barclays PLC started coverage on shares of Sysco Corp. (NYSE:SYY) in a research report issued on Friday. The firm set an “underweight” rating on the stock.
Other equities analysts have also recently issued research reports about the stock. Bank of America Corp. set a $54.00 price target on shares of Sysco Corp. and gave the company a “hold” rating in a research report on Saturday, September 17th. Vetr cut shares of Sysco Corp. from a “hold” rating to a “sell” rating and set a $50.83 price target for the company. in a research report on Thursday, August 18th. Deutsche Bank AG assumed coverage on shares of Sysco Corp. in a research report on Monday, July 18th. They issued a “hold” rating and a $52.00 price target for the company. BMO Capital Markets reissued a “hold” rating and issued a $52.00 price target on shares of Sysco Corp. in a research report on Thursday, June 16th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $57.00 price target (up previously from $55.00) on shares of Sysco Corp. in a research report on Tuesday, August 16th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $49.45.
Shares of Sysco Corp. (NYSE:SYY) opened at 50.02 on Friday. The stock’s 50 day moving average is $51.51 and its 200-day moving average is $49.40. The stock has a market capitalization of $27.77 billion, a price-to-earnings ratio of 30.50 and a beta of 0.56. Sysco Corp. has a one year low of $38.34 and a one year high of $53.97.
Sysco Corp. (NYSE:SYY) last posted its quarterly earnings data on Monday, August 15th. The company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. The firm earned $13.65 billion during the quarter, compared to analysts’ expectations of $13.68 billion. Sysco Corp. had a net margin of 1.89% and a return on equity of 28.67%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted $0.52 EPS. On average, equities research analysts predict that Sysco Corp. will post $2.31 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 7th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.24 annualized dividend and a yield of 2.48%. Sysco Corp.’s dividend payout ratio is currently 75.15%.
In other Sysco Corp. news, CEO William J. Delaney III sold 20,114 shares of Sysco Corp. stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $49.51, for a total value of $995,844.14. Following the transaction, the chief executive officer now directly owns 422,507 shares in the company, valued at $20,918,321.57. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Joel T. Grade sold 16,368 shares of Sysco Corp. stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $52.01, for a total transaction of $851,299.68. Following the completion of the transaction, the chief financial officer now owns 60,031 shares in the company, valued at $3,122,212.31. The disclosure for this sale can be found here. Corporate insiders own 7.77% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kistler Tiffany Companies LLC raised its position in Sysco Corp. by 0.5% in the second quarter. Kistler Tiffany Companies LLC now owns 2,866 shares of the company’s stock worth $145,000 after buying an additional 13 shares in the last quarter. Blue Chip Partners Inc. raised its position in Sysco Corp. by 0.7% in the second quarter. Blue Chip Partners Inc. now owns 2,894 shares of the company’s stock worth $147,000 after buying an additional 19 shares in the last quarter. Hanson McClain Inc. raised its position in Sysco Corp. by 1.1% in the second quarter. Hanson McClain Inc. now owns 4,244 shares of the company’s stock worth $215,000 after buying an additional 45 shares in the last quarter. Crawford Investment Counsel Inc. raised its position in Sysco Corp. by 1.1% in the second quarter. Crawford Investment Counsel Inc. now owns 5,937 shares of the company’s stock worth $301,000 after buying an additional 67 shares in the last quarter. Finally, Bruderman Asset Management LLC raised its position in Sysco Corp. by 2.5% in the second quarter. Bruderman Asset Management LLC now owns 2,788 shares of the company’s stock worth $141,000 after buying an additional 68 shares in the last quarter. Institutional investors own 76.65% of the company’s stock.
Sysco Corp. Company Profile
Sysco Corporation (Sysco) along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company provides products and related services to approximately 425,000 customers, including restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers.
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