Sysco Corporation (NYSE:SYY) Stock Has Average Price Target of $91.13

Sysco Corporation (NYSE:SYY) has been given an average recommendation of “Moderate Buy” by the eighteen brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $91.13.

SYY has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of Sysco from $95.00 to $92.00 in a research report on Wednesday, November 4th. Citigroup cut their target price on shares of Sysco from $87.00 to $84.00 and set a “neutral” rating on the stock in a report on Thursday, November 5th. UBS Group lifted their target price on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Deutsche Bank raised their price target on Sysco from $86.00 to $89.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. Finally, Guggenheim restated a “buy” rating and set a $90.00 price objective on shares of Sysco in a research report on Wednesday, September 16th.

Sysco Price Performance

Shares of SYY stock opened at $77.01 on Wednesday. The firm has a market cap of $37.91 billion, a P/E ratio of 20.48, a P/E/G ratio of 1.86 and a beta of 0.66. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.46 and a quick ratio of 0.95. Sysco has a 1-year low of $68.19 and a 1-year high of $91.85. The firm has a fifty day moving average of $79.45 and a two-hundred day moving average of $80.48.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $1.19 EPS for the quarter, hitting the consensus estimate of $1.19. Sysco had a net margin of 2.12% and a return on equity of 79.24%. The business had revenue of $21.74 billion for the quarter, compared to analysts’ expectations of $22.02 billion. During the same quarter last year, the company posted $1.15 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, research analysts anticipate that Sysco will post 5.08 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, October 2nd. Sysco’s dividend payout ratio (DPR) is 58.51%.

Insider Transactions at Sysco

In other news, EVP Ronald L. Phillips sold 960 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $83.00, for a total value of $79,680.00. Following the completion of the transaction, the executive vice president directly owned 49,852 shares in the company, valued at $4,137,716. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Thomas Gerard Ondrof acquired 2,500 shares of the stock in a transaction that occurred on Wednesday, November 4th. The shares were bought at an average price of $76.62 per share, for a total transaction of $191,550.00. Following the purchase, the director directly owned 2,500 shares of the company’s stock, valued at approximately $191,550. This trade represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have sold 8,873 shares of company stock worth $741,569. Company insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Sysco during the second quarter valued at approximately $3,596,356,000. Bank of America Corp DE bought a new position in shares of Sysco in the 2nd quarter worth about $482,589,000. Primecap Management Co. CA bought a new position in shares of Sysco during the second quarter worth about $313,503,000. Bank of New York Mellon Corp bought a new stake in Sysco during the 2nd quarter valued at $273,323,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Sysco in the second quarter worth approximately $203,861,000. Institutional investors own 83.41% of the company’s stock.

Sysco Company Profile

Sysco Corporation is a food distribution company headquartered in Houston, Texas. Founded in 1969, it supplies food and related products to customers in the foodservice and hospitality industries. The company distributes fresh and frozen foods, meat, seafood, produce, dairy products, and pantry staples, as well as kitchen equipment, cleaning supplies, and other nonfood items. Its customers include restaurants, health care and educational facilities, lodging businesses, and other organizations that prepare and serve meals.