Weekly Analysts’ Ratings Changes for SYSCO (SYY)

Several brokerages have updated their recommendations and price targets on shares of SYSCO (NYSE: SYY) in the last few weeks:

  • 2/6/2018 – SYSCO had its price target raised by analysts at Bank of America Corp from $68.00 to $70.00. They now have a “buy” rating on the stock.
  • 2/6/2018 – SYSCO had its price target lowered by analysts at Loop Capital from $72.00 to $70.00. They now have a “buy” rating on the stock.
  • 2/6/2018 – SYSCO had its price target lowered by analysts at Pivotal Research from $68.00 to $61.00. They now have a “buy” rating on the stock.
  • 2/6/2018 – SYSCO had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $61.00 price target on the stock.
  • 2/5/2018 – SYSCO was given a new $74.00 price target on by analysts at BMO Capital Markets. They now have a “buy” rating on the stock.
  • 2/5/2018 – SYSCO was given a new $67.00 price target on by analysts at Jefferies Group LLC. They now have a “hold” rating on the stock.
  • 1/31/2018 – SYSCO had its price target raised by analysts at Loop Capital from $68.00 to $72.00. They now have a “buy” rating on the stock.
  • 1/16/2018 – SYSCO was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating. They now have a $64.00 price target on the stock.
  • 1/10/2018 – SYSCO was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $71.00 price target on the stock. According to Zacks, “Sysco Corporation recently outlined its key growth strategies, which will help it achieve its three-year financial goals for fiscal 2020. Sysco's four core strategies include enhancing consumers’ experience; optimising business; stimulating power of its people and achieving operational efficacy. Notably, the company has been gaining from its cost-saving and revenue-management efforts for quite some time now, as evident from its solid past record. These efforts, along with contsant focus on buyouts have helped Sysco surpass the industry in the past three months. However, Sysco's international results in the last reported quarter were hurt by softness in Europe, which is battling slow traffic. Moreover, weak UK currency resulted in food cost inflation, thereby leading to pricing pressure. While these hurdles are likely to persist in fiscal 2018, management expects its U.S. business to be buoyed by higher consumer demand.”

Shares of SYSCO Co. (NYSE SYY) traded up $0.10 during trading on Monday, hitting $58.43. 398,424 shares of the stock were exchanged, compared to its average volume of 2,640,485. SYSCO Co. has a 12 month low of $48.85 and a 12 month high of $64.27. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.85 and a current ratio of 1.38. The company has a market cap of $30,443.52, a P/E ratio of 26.08, a PEG ratio of 1.96 and a beta of 0.56.

SYSCO (NYSE:SYY) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, topping the Zacks’ 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 during the quarter, compared to the consensus estimate of $14.15 billion. During the same quarter in the prior year, the firm posted $0.58 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. equities analysts predict that SYSCO Co. will post 2.95 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, January 5th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Thursday, January 4th. This is an increase from SYSCO’s previous quarterly dividend of $0.33. SYSCO’s dividend payout ratio is 64.29%.

In other news, SVP Greg D. Bertrand sold 81,038 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $60.76, for a total transaction of $4,923,868.88. Following the completion of the sale, the senior vice president now owns 69,721 shares of the company’s stock, valued at approximately $4,236,247.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Wayne Shurts sold 15,600 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 56,985 shares of the company’s stock, valued at approximately $3,228,770.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 144,695 shares of company stock valued at $8,759,223. 9.60% of the stock is currently owned by insiders.

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.

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