Royal Bank of Canada reiterated their sector perform rating on shares of SYSCO (NYSE:SYY) in a research note published on Tuesday. The brokerage currently has a $61.00 target price on the stock.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of SYSCO from a hold rating to a buy rating and set a $60.00 price target on the stock in a research note on Tuesday, October 10th. Pivotal Research raised their price target on shares of SYSCO from $53.00 to $60.00 and gave the stock a buy rating in a research note on Tuesday, December 12th. Loop Capital raised their price target on shares of SYSCO to $68.00 and gave the stock a buy rating in a research note on Monday, December 11th. BMO Capital Markets set a $66.00 price target on shares of SYSCO and gave the stock a buy rating in a research note on Friday, December 8th. Finally, Morgan Stanley raised shares of SYSCO from an underweight rating to an equal weight rating and set a $64.00 price target on the stock in a research note on Tuesday, January 16th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $65.20.

Shares of SYSCO (SYY) opened at $57.00 on Tuesday. SYSCO has a 12 month low of $48.85 and a 12 month high of $64.27. The company has a market cap of $29,700.00, a PE ratio of 25.56, a P/E/G ratio of 2.25 and a beta of 0.56. The company has a quick ratio of 0.88, a current ratio of 1.38 and a debt-to-equity ratio of 3.66.

SYSCO (NYSE:SYY) last released its quarterly earnings results on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $14.15 billion. During the same period last year, the company earned $0.58 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. equities analysts anticipate that SYSCO will post 2.95 earnings per share for the current year.

The business also recently disclosed 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 is a positive change from SYSCO’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Thursday, January 4th. SYSCO’s dividend payout ratio is presently 64.57%.

In other news, EVP Wayne Shurts sold 7,800 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $61.76, for a total transaction of $481,728.00. Following the transaction, the executive vice president now directly owns 55,235 shares in the company, valued at approximately $3,411,313.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William J. Delaney III sold 150,000 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $54.05, for a total transaction of $8,107,500.00. Following the transaction, the chief executive officer now owns 526,725 shares in the company, valued at $28,469,486.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 294,695 shares of company stock worth $16,866,723. Insiders own 9.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Exane Derivatives raised its holdings in SYSCO by 137.8% in the third quarter. Exane Derivatives now owns 48,699 shares of the company’s stock valued at $2,627,000 after buying an additional 28,217 shares during the period. FDx Advisors Inc. raised its holdings in SYSCO by 27.6% in the third quarter. FDx Advisors Inc. now owns 35,396 shares of the company’s stock valued at $1,910,000 after buying an additional 7,652 shares during the period. Vident Investment Advisory LLC purchased a new position in SYSCO in the third quarter valued at approximately $393,000. Chicago Partners Investment Group LLC raised its holdings in SYSCO by 637.5% in the third quarter. Chicago Partners Investment Group LLC now owns 5,900 shares of the company’s stock valued at $318,000 after buying an additional 5,100 shares during the period. Finally, Stifel Financial Corp raised its holdings in SYSCO by 21.8% in the second quarter. Stifel Financial Corp now owns 1,093,476 shares of the company’s stock valued at $55,001,000 after buying an additional 195,903 shares during the period. Institutional investors and hedge funds own 80.09% of the company’s stock.

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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)

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