Other research analysts have also recently issued research reports about the stock. Loop Capital raised their price target on shares of SYSCO to $86.00 and gave the stock a buy rating in a report on Friday, October 25th. Piper Sandler reaffirmed a neutral rating and issued a $90.00 price target (down previously from $94.00) on shares of SYSCO in a report on Tuesday. Bank of America raised their price target on shares of SYSCO from $76.00 to $80.00 and gave the stock a neutral rating in a report on Wednesday, October 2nd. BMO Capital Markets raised their price target on shares of SYSCO to $88.00 and gave the stock an outperform rating in a report on Tuesday, November 5th. Finally, Piper Jaffray Companies began coverage on shares of SYSCO in a report on Thursday, December 12th. They issued an overweight rating and a $94.00 price target for the company. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $79.13.
NYSE:SYY traded down $0.18 during midday trading on Wednesday, reaching $83.06. 92,560 shares of the stock traded hands, compared to its average volume of 1,775,475. SYSCO has a 12-month low of $61.33 and a 12-month high of $85.98. The business has a 50-day moving average of $83.76 and a two-hundred day moving average of $77.69. The company has a debt-to-equity ratio of 3.74, a quick ratio of 0.84 and a current ratio of 1.39. The stock has a market capitalization of $42.04 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 2.20 and a beta of 0.48.
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 $0.45 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.17%. This is a positive change from SYSCO’s previous quarterly dividend of $0.39. SYSCO’s dividend payout ratio is presently 50.70%.
In other news, CEO Thomas Bene sold 39,384 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.00, for a total value of $3,150,720.00. Following the sale, the chief executive officer now owns 132,929 shares in the company, valued at $10,634,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 47,643 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.00, for a total transaction of $4,049,655.00. Following the completion of the sale, the executive vice president now owns 30,744 shares in the company, valued at approximately $2,613,240. The disclosure for this sale can be found here. Insiders sold 227,412 shares of company stock worth $18,867,462 in the last quarter. Company insiders own 5.24% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC grew its position in SYSCO by 1,804.9% during the second quarter. Nuveen Asset Management LLC now owns 2,587,054 shares of the company’s stock valued at $182,956,000 after buying an additional 2,451,242 shares during the period. State Street Corp grew its position in SYSCO by 6.3% during the third quarter. State Street Corp now owns 26,747,724 shares of the company’s stock valued at $2,123,769,000 after buying an additional 1,590,356 shares during the period. BlackRock Inc. grew its position in SYSCO by 3.3% during the second quarter. BlackRock Inc. now owns 31,130,419 shares of the company’s stock valued at $2,201,542,000 after buying an additional 1,004,706 shares during the period. Unigestion Holding SA grew its position in SYSCO by 197.1% during the third quarter. Unigestion Holding SA now owns 1,066,357 shares of the company’s stock valued at $84,669,000 after buying an additional 707,466 shares during the period. Finally, California Public Employees Retirement System grew its position in SYSCO by 23.8% during the second quarter. California Public Employees Retirement System now owns 3,614,248 shares of the company’s stock valued at $255,600,000 after buying an additional 695,556 shares during the period. Hedge funds and other institutional investors own 78.66% of the company’s stock.
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.
See Also: Commodities
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for SYSCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYSCO and related companies with MarketBeat.com's FREE daily email newsletter.