Loop Capital Trims SYSCO (SYY) Target Price to $75.00

SYSCO (NYSE:SYY) had its price objective cut by Loop Capital to $75.00 in a research note issued to investors on Tuesday, The Fly reports. They currently have a buy rating on the stock. The analysts noted that the move was a valuation call.

A number of other equities analysts have also weighed in on SYY. ValuEngine lowered SYSCO from a buy rating to a hold rating in a research report on Tuesday. Jefferies Financial Group set a $68.00 price target on SYSCO and gave the company a hold rating in a research note on Monday, August 13th. Royal Bank of Canada set a $67.00 price target on SYSCO and gave the company a hold rating in a research note on Friday, November 2nd. Morgan Stanley boosted their price target on SYSCO from $67.00 to $71.00 and gave the company an equal weight rating in a research note on Tuesday, August 14th. Finally, Buckingham Research initiated coverage on SYSCO in a research note on Monday, October 22nd. They set a buy rating and a $82.00 price target for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $73.15.

NYSE:SYY traded up $0.25 during mid-day trading on Tuesday, reaching $66.81. The company’s stock had a trading volume of 3,361,837 shares, compared to its average volume of 2,891,820. SYSCO has a 12-month low of $53.65 and a 12-month high of $75.98. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.74 and a current ratio of 1.30. The firm has a market cap of $34.54 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 1.92 and a beta of 0.56.

SYSCO (NYSE:SYY) last issued its earnings results on Monday, November 5th. The company reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.01). SYSCO had a return on equity of 68.81% and a net margin of 2.52%. The business had revenue of $15.22 billion during the quarter, compared to analysts’ expectations of $15.39 billion. During the same period last year, the firm posted $0.74 EPS. SYSCO’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, research analysts predict that SYSCO will post 3.4 earnings per share for the current year.

In related news, Director Trian Fund Management, L.P. sold 2,115,358 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $74.81, for a total transaction of $158,249,931.98. Following the completion of the transaction, the director now directly owns 4,005 shares in the company, valued at approximately $299,614.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard G. Tilghman sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $73.82, for a total value of $369,100.00. Following the transaction, the director now owns 66,137 shares of the company’s stock, valued at $4,882,233.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,969,811 shares of company stock valued at $297,370,093. Corporate insiders own 7.88% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board grew its stake in shares of SYSCO by 1,263.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 492,410 shares of the company’s stock valued at $36,069,000 after acquiring an additional 456,300 shares during the period. Trexquant Investment LP grew its stake in shares of SYSCO by 557.5% during the 3rd quarter. Trexquant Investment LP now owns 130,101 shares of the company’s stock valued at $9,530,000 after acquiring an additional 110,313 shares during the period. Nuance Investments LLC grew its stake in shares of SYSCO by 14.3% during the 3rd quarter. Nuance Investments LLC now owns 171,663 shares of the company’s stock valued at $12,565,000 after acquiring an additional 21,455 shares during the period. Bank of Hawaii grew its stake in shares of SYSCO by 15.8% during the 3rd quarter. Bank of Hawaii now owns 10,332 shares of the company’s stock valued at $757,000 after acquiring an additional 1,413 shares during the period. Finally, CIBC World Markets Inc. grew its stake in shares of SYSCO by 222.8% during the 3rd quarter. CIBC World Markets Inc. now owns 15,739 shares of the company’s stock valued at $1,153,000 after acquiring an additional 10,863 shares during the period. Institutional investors own 80.11% of the company’s stock.

About SYSCO

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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