SYY has been the subject of a number of other research reports. ValuEngine raised shares of SYSCO from a “hold” rating to a “buy” rating in a research report on Wednesday, May 29th. Consumer Edge initiated coverage on shares of SYSCO in a research report on Wednesday, July 17th. They set an “underweight” rating and a $71.75 price target for the company. Buckingham Research raised their price target on shares of SYSCO from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. raised their price target on shares of SYSCO from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Morgan Stanley raised their price target on shares of SYSCO from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $74.48.
NYSE:SYY traded down $1.08 during trading hours on Monday, hitting $72.28. The stock had a trading volume of 3,144,088 shares, compared to its average volume of 2,777,908. SYSCO has a 1-year low of $59.44 and a 1-year high of $75.98. The company has a debt-to-equity ratio of 3.44, a quick ratio of 0.79 and a current ratio of 1.30. The company has a market capitalization of $35.97 billion, a P/E ratio of 23.18, a PEG ratio of 1.87 and a beta of 0.52. The firm has a 50 day simple moving average of $70.85.
SYSCO (NYSE:SYY) last released its quarterly earnings results on Monday, August 12th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. SYSCO had a net margin of 2.65% and a return on equity of 73.66%. The business had revenue of $15.47 billion during the quarter, compared to the consensus estimate of $15.65 billion. During the same quarter last year, the company earned $0.94 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts expect that SYSCO will post 3.5 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in SYSCO by 1.3% in the second quarter. Vanguard Group Inc. now owns 44,414,289 shares of the company’s stock valued at $3,140,979,000 after buying an additional 551,581 shares during the last quarter. BlackRock Inc. raised its stake in shares of SYSCO by 3.3% during the second quarter. BlackRock Inc. now owns 31,130,419 shares of the company’s stock valued at $2,201,542,000 after purchasing an additional 1,004,706 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of SYSCO by 2.5% during the second quarter. Wells Fargo & Company MN now owns 10,313,753 shares of the company’s stock valued at $729,388,000 after purchasing an additional 246,850 shares in the last quarter. Parnassus Investments CA raised its stake in shares of SYSCO by 4.7% during the first quarter. Parnassus Investments CA now owns 8,752,593 shares of the company’s stock valued at $584,323,000 after purchasing an additional 393,096 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of SYSCO by 8.7% during the first quarter. Janus Henderson Group PLC now owns 7,948,553 shares of the company’s stock valued at $530,645,000 after purchasing an additional 633,041 shares in the last quarter. 78.30% of the stock is owned by hedge funds and other institutional investors.
SYSCO Company Profile
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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