Sysco (NYSE:SYY) Price Target Raised to $95.00

Sysco (NYSE:SYY - Free Report) had its price target raised by Jefferies Financial Group from $91.00 to $95.00 in a report issued on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts also recently weighed in on SYY. Wells Fargo & Company lowered their target price on Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a research report on Monday, September 16th. Finally, StockNews.com raised Sysco from a "buy" rating to a "strong-buy" rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $86.00.

Sysco Stock Down 0.9 %

NYSE SYY traded down $0.71 on Monday, hitting $79.25. 1,956,512 shares of the stock were exchanged, compared to its average volume of 3,149,232. Sysco has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The company has a 50-day moving average price of $76.40 and a 200-day moving average price of $75.21. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The company has a market cap of $38.93 billion, a PE ratio of 20.50, a PEG ratio of 2.10 and a beta of 1.19.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion during the quarter, compared to analysts' expectations of $20.47 billion. During the same quarter in the previous year, the company posted $1.07 EPS. The company's revenue was up 4.4% compared to the same quarter last year. Sell-side analysts anticipate that Sysco will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco's payout ratio is 52.44%.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 21,844 shares of Sysco stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $1,747,520.00. Following the completion of the transaction, the executive vice president now directly owns 60,581 shares in the company, valued at approximately $4,846,480. This trade represents a 26.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the sale, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. The trade was a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,279 shares of company stock valued at $2,786,971 in the last ninety days. Insiders own 0.54% of the company's stock.

Institutional Investors Weigh In On Sysco

Institutional investors have recently modified their holdings of the business. Copley Financial Group Inc. bought a new stake in Sysco in the third quarter valued at $480,000. Franklin Resources Inc. increased its holdings in shares of Sysco by 14.7% in the 3rd quarter. Franklin Resources Inc. now owns 572,158 shares of the company's stock worth $43,038,000 after acquiring an additional 73,306 shares during the period. Peapack Gladstone Financial Corp lifted its position in Sysco by 5.8% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 190,692 shares of the company's stock valued at $14,886,000 after purchasing an additional 10,519 shares during the last quarter. Synovus Financial Corp lifted its position in Sysco by 14.7% in the 3rd quarter. Synovus Financial Corp now owns 4,238 shares of the company's stock valued at $331,000 after purchasing an additional 543 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in Sysco by 51.3% during the 3rd quarter. Tidal Investments LLC now owns 37,030 shares of the company's stock valued at $2,891,000 after purchasing an additional 12,550 shares during the period. Institutional investors own 83.41% of the company's stock.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.