BMO Capital Markets Reiterates “$74.00” Price Target for SYSCO (SYY)
A number of other equities analysts also recently weighed in on the company. Pivotal Research restated a hold rating and issued a $53.00 target price on shares of SYSCO in a research note on Sunday, November 5th. Loop Capital boosted their target price on SYSCO to $68.00 and gave the stock a buy rating in a research note on Monday, December 11th. Zacks Investment Research downgraded SYSCO from a buy rating to a hold rating in a research note on Thursday, November 9th. Morgan Stanley upgraded SYSCO from an underweight rating to an equal weight rating and set a $64.00 target price on the stock in a research note on Tuesday, January 16th. Finally, Jefferies Group set a $67.00 target price on SYSCO and gave the stock a hold rating in a research note on Monday. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $64.27.
SYSCO (NYSE:SYY) opened at $58.43 on Monday. SYSCO has a 12 month low of $48.85 and a 12 month high of $64.27. The firm has a market capitalization of $30,450.00, a P/E ratio of 26.20, a PEG ratio of 2.21 and a beta of 0.56. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 3.77.
The business also recently declared a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 5th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Thursday, January 4th. This is a boost from SYSCO’s previous quarterly dividend of $0.33. SYSCO’s payout ratio is 64.57%.
In related news, insider Wayne Shurts sold 15,600 shares of SYSCO stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $61.44, for a total value of $958,464.00. Following the sale, the insider now owns 55,235 shares of the company’s stock, valued at approximately $3,393,638.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William W. Goetz sold 11,323 shares of SYSCO stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $62.00, for a total transaction of $702,026.00. Following the completion of the sale, the senior vice president now directly owns 35,825 shares in the company, valued at approximately $2,221,150. 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 ninety days. 9.60% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the stock. Nuance Investments LLC raised its holdings in shares of SYSCO by 5.6% in the 4th quarter. Nuance Investments LLC now owns 136,144 shares of the company’s stock worth $8,268,000 after purchasing an additional 7,217 shares during the period. Capital One National Association raised its holdings in SYSCO by 7.8% during the 4th quarter. Capital One National Association now owns 124,357 shares of the company’s stock valued at $7,552,000 after acquiring an additional 8,978 shares during the period. Ffcm LLC raised its holdings in SYSCO by 23.3% during the 4th quarter. Ffcm LLC now owns 19,544 shares of the company’s stock valued at $1,187,000 after acquiring an additional 3,696 shares during the period. Buckley Wealth Management LLC bought a new stake in SYSCO during the 4th quarter valued at $825,000. Finally, NuWave Investment Management LLC bought a new stake in SYSCO during the 4th quarter valued at $368,000. 80.09% of the stock is currently owned by 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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