SYSCO (NYSE:SYY) Price Target Lowered to $61.00 at Pivotal Research

SYSCO (NYSE:SYY) had its price objective lowered by Pivotal Research from $68.00 to $61.00 in a research note released on Tuesday, February 6th, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Royal Bank of Canada restated a sector perform rating and set a $61.00 target price on shares of SYSCO in a research report on Tuesday, February 6th. BMO Capital Markets set a $74.00 target price on shares of SYSCO and gave the company a buy rating in a report on Monday, February 5th. Jefferies Group set a $67.00 target price on shares of SYSCO and gave the company a hold rating in a report on Monday, February 5th. Loop Capital boosted their price objective on shares of SYSCO from $68.00 to $72.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Finally, Morgan Stanley raised shares of SYSCO from an underweight rating to an equal weight rating and set a $64.00 target price on the stock in a research report on Tuesday, January 16th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. SYSCO has a consensus rating of Buy and a consensus target price of $65.20.

SYSCO (SYY) traded up $0.37 during trading on Tuesday, reaching $58.72. 389,547 shares of the company’s stock were exchanged, compared to its average volume of 2,660,526. SYSCO has a 12 month low of $48.85 and a 12 month high of $64.27. The firm has a market cap of $30,490.49, a price-to-earnings ratio of 22.21, a PEG ratio of 1.96 and a beta of 0.56. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.85 and a current ratio of 1.38.

SYSCO (NYSE:SYY) last issued its quarterly earnings data on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. SYSCO had a net margin of 2.10% and a return on equity of 61.02%. The company had revenue of $14.41 billion for the quarter, compared to the consensus estimate of $14.15 billion. During the same period last year, the firm posted $0.58 EPS. SYSCO’s revenue for the quarter was up 7.1% on a year-over-year basis. analysts predict that SYSCO will post 2.95 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 5th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Thursday, January 4th. This is a positive change from SYSCO’s previous quarterly dividend of $0.33. SYSCO’s dividend payout ratio is currently 64.29%.

In other SYSCO news, insider Wayne Shurts sold 15,600 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $56.66, for a total transaction of $883,896.00. Following the completion of the sale, the insider now directly owns 56,985 shares of the company’s stock, valued at $3,228,770.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP William W. Goetz sold 11,323 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $62.00, for a total transaction of $702,026.00. Following the sale, the senior vice president now directly owns 35,825 shares of the company’s stock, valued at $2,221,150. The disclosure for this sale can be found here. Insiders sold a total of 144,695 shares of company stock valued at $8,759,223 in the last quarter. 9.60% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Keel Point LLC grew its holdings in SYSCO by 0.8% during the second quarter. Keel Point LLC now owns 5,782 shares of the company’s stock valued at $291,000 after purchasing an additional 47 shares during the last quarter. Laurel Wealth Advisors Inc. grew its holdings in SYSCO by 1.1% during the second quarter. Laurel Wealth Advisors Inc. now owns 10,334 shares of the company’s stock valued at $520,000 after purchasing an additional 116 shares during the last quarter. Sandhill Capital Partners LLC grew its holdings in SYSCO by 3.2% during the second quarter. Sandhill Capital Partners LLC now owns 10,834 shares of the company’s stock valued at $545,000 after purchasing an additional 332 shares during the last quarter. National Asset Management Inc. grew its holdings in SYSCO by 2.6% during the second quarter. National Asset Management Inc. now owns 13,781 shares of the company’s stock valued at $695,000 after purchasing an additional 345 shares during the last quarter. Finally, Simmons Bank grew its holdings in SYSCO by 1.5% during the second quarter. Simmons Bank now owns 26,343 shares of the company’s stock valued at $1,326,000 after purchasing an additional 377 shares during the last quarter. Hedge funds and other institutional investors own 79.35% of the company’s stock.

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About SYSCO

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 (NYSE:SYY)

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