Shares of Sysco Corporation (NYSE:SYY) have received an average rating of “Hold” from the sixteen ratings firms that are covering the firm, Marketbeat reports. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $55.60.

SYY has been the subject of a number of recent research reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $51.00 price objective on shares of Sysco Corporation in a research report on Friday, August 4th. J P Morgan Chase & Co reissued an “overweight” rating and set a $57.00 target price on shares of Sysco Corporation in a research note on Friday, June 23rd. BMO Capital Markets reissued a “buy” rating and set a $60.00 target price on shares of Sysco Corporation in a research note on Tuesday, June 27th. Royal Bank Of Canada set a $50.00 target price on Sysco Corporation and gave the stock a “hold” rating in a research note on Friday, August 11th. Finally, Pivotal Research set a $53.00 target price on Sysco Corporation and gave the stock a “hold” rating in a research note on Sunday, August 13th.

Sysco Corporation (NYSE:SYY) opened at 52.92 on Friday. Sysco Corporation has a 12 month low of $47.15 and a 12 month high of $57.07. The company’s 50-day moving average price is $52.03 and its 200 day moving average price is $52.54. The stock has a market capitalization of $28.05 billion, a PE ratio of 25.44 and a beta of 0.52.

Sysco Corporation (NYSE:SYY) last posted its quarterly earnings data on Monday, August 14th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The company had revenue of $14.40 billion during the quarter, compared to analysts’ expectations of $14.35 billion. During the same period last year, the firm earned $0.64 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts forecast that Sysco Corporation will post $2.76 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.49%. The ex-dividend date is Thursday, October 5th. Sysco Corporation’s payout ratio is 63.16%.

In other Sysco Corporation news, insider Wayne Shurts sold 15,600 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $51.76, for a total transaction of $807,456.00. Following the completion of the transaction, the insider now owns 58,776 shares of the company’s stock, valued at $3,042,245.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $49.92, for a total value of $1,497,600.00. Following the transaction, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at approximately $20,303,712. The disclosure for this sale can be found here. Insiders have sold 160,200 shares of company stock valued at $8,397,012 in the last three months. 8.81% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. North Star Investment Management Corp. increased its position in Sysco Corporation by 81.2% during the first quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock worth $101,000 after buying an additional 871 shares in the last quarter. TrimTabs Asset Management LLC boosted its holdings in shares of Sysco Corporation by 88.7% during the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock worth $112,000 after purchasing an additional 1,016 shares during the last quarter. Arcadia Investment Management Corp MI boosted its holdings in shares of Sysco Corporation by 10.7% during the second quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock worth $118,000 after purchasing an additional 225 shares during the last quarter. Acrospire Investment Management LLC boosted its holdings in shares of Sysco Corporation by 84.6% during the second quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock worth $121,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its holdings in shares of Sysco Corporation by 13.4% during the second quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock worth $128,000 after purchasing an additional 300 shares during the last quarter. 78.88% of the stock is owned by institutional investors.

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About Sysco Corporation

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 Corporation (NYSE:SYY)

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