Sysco (NYSE:SYY) had its price target lifted by Pivotal Research from $53.00 to $60.00 in a research note issued to investors on Tuesday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on the stock. BMO Capital Markets reiterated an outperform rating on shares of Sysco in a research report on Tuesday, September 12th. Zacks Investment Research cut shares of Sysco from a buy rating to a hold rating in a research report on Thursday, November 9th. Loop Capital upped their target price on shares of Sysco to $68.00 and gave the company a buy rating in a research report on Monday. Finally, Wells Fargo & Company reiterated a buy rating on shares of Sysco in a research report on Monday, August 14th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $58.55.

Shares of Sysco (NYSE:SYY) traded down $0.72 during trading on Tuesday, hitting $60.90. 3,086,500 shares of the company’s stock traded hands, compared to its average volume of 2,901,728. The company has a market cap of $32,107.49, a PE ratio of 24.17, a price-to-earnings-growth ratio of 2.64 and a beta of 0.54. Sysco has a 52 week low of $48.85 and a 52 week high of $62.79. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 3.77.

Sysco (NYSE:SYY) last issued its earnings results on Monday, November 6th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.72 by $0.02. The company had revenue of $14.65 billion during the quarter, compared to analysts’ expectations of $14.43 billion. Sysco had a net margin of 2.12% and a return on equity of 58.47%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS. research analysts forecast that Sysco will post 2.78 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 5th will be issued a $0.36 dividend. This is a positive change from Sysco’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, January 4th. This represents a $1.44 annualized dividend and a dividend yield of 2.36%. Sysco’s payout ratio is 60.00%.

In other news, CEO William J. Delaney III sold 200,000 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $53.76, for a total value of $10,752,000.00. Following the completion of the transaction, the chief executive officer now owns 576,725 shares of the company’s stock, valued at approximately $31,004,736. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul T. Moskowitz sold 16,667 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $54.12, for a total transaction of $902,018.04. Following the completion of the transaction, the insider now directly owns 61,936 shares of the company’s stock, valued at approximately $3,351,976.32. The disclosure for this sale can be found here. Insiders sold a total of 1,820,067 shares of company stock valued at $98,262,450 in the last three months. 9.60% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Xact Kapitalforvaltning AB boosted its stake in Sysco by 2.3% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 102,700 shares of the company’s stock worth $5,169,000 after purchasing an additional 2,314 shares during the period. Fox Run Management L.L.C. acquired a new position in Sysco in the 2nd quarter worth $352,000. Stock Yards Bank & Trust Co. boosted its stake in Sysco by 2.6% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 4,859 shares of the company’s stock worth $244,000 after purchasing an additional 122 shares during the period. BKD Wealth Advisors LLC boosted its stake in Sysco by 6.4% in the 2nd quarter. BKD Wealth Advisors LLC now owns 50,795 shares of the company’s stock worth $2,556,000 after purchasing an additional 3,049 shares during the period. Finally, City Holding Co. boosted its stake in Sysco by 5.2% in the 2nd quarter. City Holding Co. now owns 35,812 shares of the company’s stock worth $1,802,000 after purchasing an additional 1,780 shares during the period. 80.22% of the stock is owned by institutional investors.

WARNING: This piece was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be accessed at https://www.thecerbatgem.com/2017/12/15/pivotal-research-raises-sysco-syy-price-target-to-60-00.html.

About Sysco

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 (NYSE:SYY)

Receive News & Stock Ratings for Sysco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco and related stocks with our FREE daily email newsletter.