Sysco Corporation (NYSE:SYY)‘s stock had its “outperform” rating reaffirmed by BMO Capital Markets in a note issued to investors on Tuesday, September 12th.
Several other equities research analysts also recently commented on the company. Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a report on Friday, June 23rd. Bank of America Corporation reiterated a “buy” rating and issued a $61.00 price objective on shares of Sysco Corporation in a report on Monday, June 26th. Zacks Investment Research upgraded Sysco Corporation from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Friday, July 21st. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $57.00 price objective on shares of Sysco Corporation in a research report on Friday, June 23rd. Finally, BidaskClub cut Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Sysco Corporation currently has a consensus rating of “Hold” and an average target price of $56.17.
Sysco Corporation (NYSE:SYY) traded down 0.93% during mid-day trading on Tuesday, reaching $53.37. 2,382,026 shares of the company were exchanged. Sysco Corporation has a 12-month low of $47.15 and a 12-month high of $57.07. The stock has a market capitalization of $28.17 billion, a price-to-earnings ratio of 25.66 and a beta of 0.52. The company’s 50 day moving average price is $52.31 and its 200-day moving average price is $52.57.
Sysco Corporation (NYSE:SYY) last issued its quarterly earnings results on Monday, August 14th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The firm had revenue of $14.40 billion during the quarter, compared to the consensus estimate of $14.35 billion. During the same period last year, the company earned $0.64 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. On average, equities research analysts forecast that Sysco Corporation will post $2.76 earnings per share for the current fiscal year.
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In other Sysco Corporation news, Director Trian Fund Management, L.P. purchased 889,561 shares of the firm’s stock in a transaction on Tuesday, September 19th. The stock was bought at an average cost of $53.68 per share, for a total transaction of $47,751,634.48. Following the completion of the purchase, the director now owns 5,529 shares in the company, valued at approximately $296,796.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $50.82, for a total value of $396,396.00. Following the completion of the transaction, the executive vice president now directly owns 58,776 shares in the company, valued at $2,986,996.32. The disclosure for this sale can be found here. Insiders have sold a total of 1,724,714 shares of company stock valued at $92,456,142 over the last 90 days. 8.81% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Kistler Tiffany Companies LLC increased its holdings in shares of Sysco Corporation by 0.4% in the second quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock valued at $147,000 after purchasing an additional 12 shares during the period. Buckingham Asset Management LLC grew its holdings in Sysco Corporation by 0.3% during the first quarter. Buckingham Asset Management LLC now owns 5,904 shares of the company’s stock worth $307,000 after acquiring an additional 16 shares during the period. Schnieders Capital Management LLC grew its holdings in Sysco Corporation by 0.4% during the second quarter. Schnieders Capital Management LLC now owns 4,070 shares of the company’s stock worth $205,000 after acquiring an additional 18 shares during the period. Blue Chip Partners Inc. grew its holdings in Sysco Corporation by 0.6% during the second quarter. Blue Chip Partners Inc. now owns 2,967 shares of the company’s stock worth $149,000 after acquiring an additional 18 shares during the period. Finally, Northwest Quadrant Wealth Management LLC grew its holdings in Sysco Corporation by 0.6% during the second quarter. Northwest Quadrant Wealth Management LLC now owns 5,169 shares of the company’s stock worth $269,000 after acquiring an additional 29 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Sysco Corporation Company Profile
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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