In yesterday’s Wall Street session, Sysco Corporation (NYSE:SYY) shares traded at $75.81, up 0.81% from the previous session.
As of this writing, 18 analysts cover Sysco Corporation (NYSE:SYY). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $93.00 and a low of $79.00, we find $86.00. Given the previous closing price of $75.20, this indicates a potential upside of 14.36 percent. SYY stock price is now 3.88% away from the 50-day moving average and -1.53% away from the 200-day moving average. The market capitalization of the company currently stands at $38.49B.
There are 9 analysts who have given it a hold rating, whereas 8 have given it a buy rating. Brokers who have rated the stock have averaged $86.08 as their price target over the next twelve months.
In other news, Talton Sheila, Director sold 2,469 shares of the company’s stock on Feb 02. The stock was sold for $190,696 at an average price of $77.24. Upon completion of the transaction, the Director now directly owns 11,877 shares in the company, valued at $0.9 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 28, EVP Bertrand Greg D sold 12,000 shares of the business’s stock. A total of $1,020,000 was realized by selling the stock at an average price of $85.00. This leaves the insider owning 40,931 shares of the company worth $3.1 million. Insiders disposed of 311,732 shares of company stock worth roughly $23.63 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SYY stock. A new stake in Sysco Corporation shares was purchased by OFI INVEST ASSET MANAGEMENT during the first quarter worth $1,064,257,000. EMPOWER ADVISORY GROUP, LLC invested $47,456,000 in shares of SYY during the first quarter. In the first quarter, LIGHTHOUSE INVESTMENT PARTNERS, LLC acquired a new stake in Sysco Corporation valued at approximately $13,741,000. ELEMENT CAPITAL MANAGEMENT LLC acquired a new stake in SYY for approximately $4,683,000. INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC purchased a new stake in SYY valued at around $4,076,000 in the second quarter. In total, there are 1,801 active investors with 84.30% ownership of the company’s stock.
Monday morning saw Sysco Corporation (NYSE: SYY) opened at $75.45. During the past 12 months, Sysco Corporation has had a low of $69.22 and a high of $87.95. As of last week, the company has a debt-to-equity ratio of 6.97, a current ratio of 1.20, and a quick ratio of 0.70. According to the stock market information, the enterprise value for the company is $49.36B, which is based on a 25.06 price-to-earnings ratio, a 1.60 price-to-earnings-growth ratio, and a beta of 1.11. The fifty day moving average price for SYY is $73.02 and a two-hundred day moving average price translates $76.99 for the stock.
The latest earnings results from Sysco Corporation (NYSE: SYY) was released for Mar, 2023. According to the Food Distribution Company, earnings per share came in at $0.9, missing analysts’ expectations of $0.92 by -0.02. This compares to $0.59 EPS in the same period last year. The net profit margin was 2.00% and return on equity was 112.30% for SYY. The company reported revenue of $18.88 billion for the quarter, compared to $16.9 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.68 percent. For the current quarter, analysts expect SYY to generate $19.99B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/28/2023. Investors who held shares on 07/07/2023 were paid a $0.50 dividend. On an annualized basis, this represents a $2.00 dividend and a 2.64% percent yield. There was an ex-dividend date of 07/06/2023 for this dividend. In terms of dividend payout ratio, SYY is presently at 63.80%.
Sysco Corporation(SYY) Company Profile
Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments. The company distributes frozen food, such as meat, seafood, fully prepared entrées, fruits, vegetables, and desserts; canned and dry food products; fresh meat and seafood products; dairy products; beverages; imported specialties; and fresh produce products. It also supplies various non-food items, including paper products comprising disposable napkins, plates, and cups; tableware consisting of China and silverware; cookware, which include pots, pans, and utensils; restaurant and kitchen equipment and supplies; and cleaning supplies. The company serves restaurants, hospitals and nursing homes, schools and colleges, hotels and motels, industrial caterers, and other foodservice venues. As of July 2, 2022, it operated 333 distribution facilities. Sysco Corporation was incorporated in 1969 and is headquartered in Houston, Texas.
