Sysco Corp. Stock Rating Reaffirmed by Citigroup Inc. (SYY)
Sysco Corp. (NYSE:SYY)‘s stock had its “neutral” rating reiterated by investment analysts at Citigroup Inc. in a note issued to investors on Monday. They currently have a $40.00 price objective on the stock, up from their previous price objective of $36.00. Citigroup Inc.’s price objective points to a potential upside of 8.31% from the stock’s previous close.
Shares of Sysco Corp. (NYSE:SYY) traded down 0.30% during mid-day trading on Monday, hitting $36.82. The stock had a trading volume of 1,343,758 shares. Sysco Corp. has a 52 week low of $31.13 and a 52 week high of $43.40. The stock’s 50-day moving average is $36.86 and its 200-day moving average is $36.09. The company has a market cap of $21.524 billion and a P/E ratio of 22.80. Sysco Corp. also was the target of unusually large options trading on Friday. Traders purchased 10,388 put options on the company. This is an increase of 1,397% compared to the typical volume of 694 put options.
Sysco Corp. (NYSE:SYY) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by $0.01. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts predict that Sysco Corp. will post $1.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Tuesday, July 1st.
A number of other analysts have also recently weighed in on SYY. Analysts at Zacks reiterated a “neutral” rating on shares of Sysco Corp. in a research note on Friday, June 6th. They now have a $39.00 price target on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Sysco Corp. has a consensus rating of “Hold” and a consensus price target of $34.17.
Sysco Corporation (NYSE:SYY), along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry.
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