Sysco Corporation (SYY) Stock Rating Reaffirmed by BMO Capital Markets

BMO Capital Markets reaffirmed their outperform rating on shares of Sysco Corporation (NYSE:SYY) in a report released on Tuesday morning.

Several other research firms also recently issued reports on SYY. Zacks Investment Research downgraded shares of Sysco Corporation from a buy rating to a hold rating in a research note on Wednesday, August 16th. Wells Fargo & Company reaffirmed a buy rating on shares of Sysco Corporation in a research note on Monday, August 14th. Pivotal Research set a $53.00 price target on shares of Sysco Corporation and gave the stock a hold rating in a research note on Sunday, August 13th. Royal Bank Of Canada set a $50.00 price target on shares of Sysco Corporation and gave the stock a hold rating in a research note on Friday, August 11th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $51.00 price target on shares of Sysco Corporation in a research note on Friday, August 4th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $56.17.

Shares of Sysco Corporation (NYSE SYY) opened at 53.66 on Tuesday. The stock has a market cap of $28.33 billion, a price-to-earnings ratio of 25.80 and a beta of 0.52. The stock’s 50 day moving average price is $52.22 and its 200-day moving average price is $52.56. Sysco Corporation has a 52-week low of $47.15 and a 52-week high of $57.07.

Sysco Corporation (NYSE:SYY) last issued its earnings results on Monday, August 14th. The company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.01. Sysco Corporation had a net margin of 2.06% and a return on equity of 53.25%. The business had revenue of $14.40 billion for the quarter, compared to the consensus estimate of $14.35 billion. During the same quarter last year, the firm posted $0.64 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, analysts predict that Sysco Corporation will post $2.76 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Sysco Corporation (SYY) Stock Rating Reaffirmed by BMO Capital Markets” was originally published by BBNS and is the sole property of of BBNS. If you are reading this report on another publication, it was copied illegally and republished in violation of international copyright and trademark laws. The legal version of this report can be viewed at https://baseballnewssource.com/markets/sysco-corporation-syy-stock-rating-reaffirmed-by-bmo-capital-markets/1640507.html.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco Corporation’s payout ratio is currently 63.16%.

In other news, EVP Wayne Shurts sold 7,800 shares of the business’s 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 sale, the executive vice president now owns 58,776 shares of the company’s stock, valued at approximately $2,986,996.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $53.16, for a total transaction of $1,594,800.00. Following the completion of the sale, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at approximately $21,621,501. The disclosure for this sale can be found here. Insiders sold a total of 524,714 shares of company stock valued at $27,628,142 in the last three months. Insiders own 8.81% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYY. Vigilant Capital Management LLC increased its position in shares of Sysco Corporation by 1.5% in the 1st quarter. Vigilant Capital Management LLC now owns 31,208 shares of the company’s stock worth $1,620,000 after purchasing an additional 465 shares during the last quarter. Wetherby Asset Management Inc. increased its position in shares of Sysco Corporation by 2.0% in the 1st quarter. Wetherby Asset Management Inc. now owns 11,609 shares of the company’s stock worth $603,000 after purchasing an additional 229 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Sysco Corporation by 10.3% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 43,210 shares of the company’s stock worth $2,243,000 after purchasing an additional 4,026 shares during the last quarter. Parsons Capital Management Inc. RI increased its position in shares of Sysco Corporation by 0.3% in the 1st quarter. Parsons Capital Management Inc. RI now owns 31,451 shares of the company’s stock worth $1,633,000 after purchasing an additional 100 shares during the last quarter. Finally, Exane Derivatives increased its position in shares of Sysco Corporation by 20.9% in the 1st quarter. Exane Derivatives now owns 21,474 shares of the company’s stock worth $1,115,000 after purchasing an additional 3,706 shares during the last quarter. 79.97% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Sysco Corporation (NYSE:SYY)

Receive News & Ratings for Sysco Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?
Cleveland Indians Winning Streak Snapped at 22
Cleveland Indians Winning Streak Snapped at 22
Tigers Player Might Play All Nine Positions During Same Game
Tigers Player Might Play All Nine Positions During Same Game
Fans Kicked Out of Fenway Park After Racist Banner Hung on Green Monster
Fans Kicked Out of Fenway Park After Racist Banner Hung on Green Monster
Dodgers End Losing Streak at 11 Behind Ace Clayton Kershaw
Dodgers End Losing Streak at 11 Behind Ace Clayton Kershaw
Cleveland Indians Winning Streak Reaches 18
Cleveland Indians Winning Streak Reaches 18


Leave a Reply

 
© 2006-2017 BBNS.