Sysco Corporation (NYSE:SYY)‘s stock had its “buy” rating restated by BMO Capital Markets in a research report issued on Tuesday, June 27th, Marketbeat.com reports. They currently have a $60.00 price target on the stock. BMO Capital Markets’ target price would indicate a potential upside of 18.06% from the stock’s previous close.
The analysts wrote, “DRI posted F4Q17 (May) pro forma EPS of $1.18, above the $1.15 consensus, but below our $1.19 estimate. Excluding the Cheddar’s acquisition, DRI’s blended comp of +3.3% beat our +2.5% estimate and the +2.4% Street mean. This was led by comps of +4.4% at Olive Garden and +3.5% at LongHorn.””
Several other equities analysts have also recently commented on the company. Bank of America Corporation reaffirmed a “buy” rating and issued a $61.00 price target on shares of Sysco Corporation in a report on Monday, June 26th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a report on Friday, June 23rd. Zacks Investment Research raised Sysco Corporation from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Tuesday, May 9th. Loop Capital initiated coverage on Sysco Corporation in a report on Monday, May 15th. They issued a “buy” rating and a $61.00 price target for the company. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $57.00 price target (up previously from $53.00) on shares of Sysco Corporation in a report on Tuesday, May 9th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $55.95.
Shares of Sysco Corporation (NYSE SYY) opened at 50.82 on Tuesday. The stock has a market capitalization of $27.20 billion, a price-to-earnings ratio of 26.79 and a beta of 0.52. Sysco Corporation has a 52 week low of $47.15 and a 52 week high of $57.07. The firm’s 50-day moving average is $52.22 and its 200-day moving average is $52.90.
Sysco Corporation (NYSE:SYY) last announced its earnings results on Monday, May 8th. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. Sysco Corporation had a return on equity of 47.28% and a net margin of 1.93%. The firm had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.14 billion. During the same quarter in the prior year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities research analysts anticipate that Sysco Corporation will post $2.47 EPS for the current fiscal year.
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In related news, insider Wayne Shurts sold 15,600 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $55.32, for a total transaction of $862,992.00. Following the sale, the insider now owns 58,776 shares of the company’s stock, valued at approximately $3,251,488.32. The sale 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 sale, the chief executive officer now directly owns 406,725 shares in the company, valued at approximately $20,303,712. The disclosure for this sale can be found here. Insiders sold a total of 129,000 shares of company stock worth $6,931,332 over the last 90 days. 8.81% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Wilkins Investment Counsel Inc. increased its stake in Sysco Corporation by 4.4% in the fourth quarter. Wilkins Investment Counsel Inc. now owns 207,075 shares of the company’s stock valued at $11,466,000 after buying an additional 8,700 shares in the last quarter. Elkfork Partners LLC purchased a new stake in Sysco Corporation during the fourth quarter valued at about $7,475,000. Fairview Capital Investment Management LLC increased its stake in Sysco Corporation by 0.5% in the fourth quarter. Fairview Capital Investment Management LLC now owns 784,926 shares of the company’s stock valued at $43,461,000 after buying an additional 4,185 shares in the last quarter. Trexquant Investment LP increased its stake in Sysco Corporation by 485.5% in the fourth quarter. Trexquant Investment LP now owns 36,300 shares of the company’s stock valued at $2,010,000 after buying an additional 30,100 shares in the last quarter. Finally, Redmond Asset Management LLC increased its stake in Sysco Corporation by 6.4% in the fourth quarter. Redmond Asset Management LLC now owns 5,690 shares of the company’s stock valued at $315,000 after buying an additional 340 shares in the last quarter. 78.62% of the stock is currently owned by hedge funds and other institutional investors.
Sysco Corporation Company Profile
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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