Sysco (NYSE:SYY) Given New $95.00 Price Target at Jefferies Financial Group

Sysco (NYSE:SYY) had its price target raised by Jefferies Financial Group from $91.00 to $95.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently weighed in on the company. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. 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, Wells Fargo & Company lowered their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and an average price target of $86.00.

Sysco Stock Down 0.9 %

Shares of NYSE SYY opened at $79.25 on Monday. Sysco has a 12 month low of $69.03 and a 12 month high of $82.89. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The firm has a market capitalization of $38.93 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 2.10 and a beta of 1.19. The business has a 50-day moving average of $76.49 and a 200-day moving average of $75.27.

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

Sysco Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.57%. Sysco’s dividend payout ratio is presently 52.44%.

Insider Activity at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 21,844 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the completion of the transaction, the executive vice president now owns 60,581 shares of the company’s stock, valued at approximately $4,846,480. This trade represents a 26.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. This represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,279 shares of company stock worth $2,786,971 over the last quarter. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sysco

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. increased its holdings in shares of Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Sysco during the third quarter valued at $26,000. Valley Wealth Managers Inc. bought a new position in shares of Sysco during the third quarter valued at $31,000. Focused Wealth Management Inc bought a new position in shares of Sysco during the third quarter valued at $37,000. Finally, Fairscale Capital LLC bought a new position in shares of Sysco during the second quarter valued at $38,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

About Sysco

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.